October 2015 New Home Closing and Permit Data Now Available

Subscribers to our Las Vegas Closing and Permit Report recently received Volume 337 in their inboxes which contains Clark County data from October 2015.  As previously reported in our latest newsletter, the overall closing total for October was the lowest since April.  Year-to-year we are reporting a nearly 12% increase in total closings.  Copper Ridge by Pulte Homes doubled its overall closing total by leading all subdivisions with 11.  They have continued to write contracts at a steady pace since then as our Weekly Traffic & Sales Watch has reported.  Five of the top 10 subdivisions in the month were in the southwest sub-market.  

Overall Closings October 2015

KB Home led all builders with 80 closings and all of the top five performing companies were publicly traded entities while American West Homes led all private builders with 43 closings.

In looking at New Home Permits pulled in clark county, Lennar Homes had four of the top six most active subdivisions led by Boulder Ranch in the east valley and Stonegate in the southwest with 16.  Overall permit totals will most likely fall short of the 8,000 mark for the year which we had originally hoped for, but we are still reporting a year-to-year increase of over 14% through October.