Subscribers have recently received in their inboxes volume 348 of our popular Las Vegas Housing Market Letter. In this month's edition, we break down the numbers for September 2016. We are reporting a level of new home closing activity not seen for over six years in terms of total closings. We are also reporting an increase in the median closing price after two straight months of declines. New home permits also remain up year-over-year and HBR President Dennis Smith comments on who is pulling the permits and the reasons for some of the changes in this area. So far in 2016 the top three builders in terms of permits pulled are DR Horton, KB Home, and Richmond American. We also include a graph showing the slow but steady growth trend in permits in 2015-16. For specific figures and to read the commentary, be sure to download the report or subscribe.
We also check in on the resale segment and look at the changes (if any) in the condo market over the past few months as many felt this part of the market would expand due to the perceived lack of affordable traditional single-family homes.
Further, Dennis provides insight into a recently released Zillow survey and how and why its results conflicted with other data and conventional wisdoms. We wrap up by mentioning our in-house database of southern Nevada housing data that is at your disposal. Contact Us with you data needs and we can surely find what you're looking for.