Las Vegas Weekly Traffic and Sales Update

For the week ending February 1, 2015 new home activity in Clark County remained at the same high levels we've reported for the past 2 weeks now.  The Traffic and Net Sales per Subdivision came in at 21 and 0.8 respectively.  Three builders reported over 20 Net Sales led by Lennar Homes whose 29 brought their January total over 100 Net Sales for the month.  It has been quite, quite some time since that has happened for a builder.  DR Horton's Whitney Mesa was the top performing subdivision for the week posting 8 Net Sales out of their Henderson sales office.

We saw four new communities come online this week beginning with KB Home's second of three product lines at their San Severo neighborhood called the Reserves.  This line contains 95 lots in the the SW area priced from $274,990.  Also in the southwest, Ryland Homes began reporting Monterra with similar pricing and featuring 58 lots.  Warmington Residential returned to the fold after leaving the Las Vegas market for a few months.  Their re-entry actually begins in Mesquite with Desert Ridge.  Homes range from 1502 to 2455 square feet and start just under $200,000.  Finally, Woodside Homes rolled out the third and final product line for their Cielo community in Summerlin known as Diamonte with plans averaging around 3,000 square feet and nearly $500,000. 

The amount of new projects over the past weeks is somewhat expected as the new year begins as activity historically picks up around this time.  We know of dozens of other communities set to debut in the coming weeks and months so hopefully for everyone involved the level of buyer activity will continue at or near current levels.

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