For the week ending October 16th, the new home segment of the Las Vegas housing market saw very little change from the previous week as we are perhaps seeing the start of the typical Q4 sales slowdown. Traffic per subdivision dropped only slightly weed-to-week but the past month has seen a definite slowing since the summer months. Net Sales per Subdivision checked in again at 0.5. The highest figure we reported in 2016 was 1.1 back in April.
Lennar Homes and Richmond American were the top two performing builders on the week with 39 combined sales across 47 communities. We reported one new project by Richmond American called Summer Hill, a 46 lot project in the southwest near an older neighborhood of the same name which closed out in late 2015.
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