Our subscribers have just received Volume 347 of the Las Vegas Closings and Permits Report which contains data for August 2016.
We are reporting 755 new home closings for the month of August including 13 projects with 10 or more. DR Horton and KB Home were the only builders with more than one project on that list (2 each). Four of the 13 reported their first closing in 2016. Two of them were condo projects. Two of the top three performers are in the Mountains Edge master plan and the Inspirada and Skye Canyon master plans each had one community reporting double-digit closings. The graph below displays closings in the major master plans:
August '16 Masterplan Closings vs. # of Projects w/1 or more Closings
When looking at new home permits, we reported 656 new home permits pulled in August in the Las Vegas valley. Eleven projects reported 10 or more permits with DR Horton being the only builder with more than one project on that list (2). One of those, Expressions in North Las Vegas has pulled 115 permits since building began in January. Since reporting sales activity in April, they have 91 net sales and 43 closings. Of the 11 projects mentioned above, the activity was spread out across five different sub-markets. Below is the same graph as above, but with data for August permits in the major master planned communities.
August '16 Masterplan Permits vs. # of Projects w/1 or more Permits
For all of the specifics on the information discussed above, download the latest issue of the Las Vegas Closings and Permits Report or subscribe today.