For the week ending February 28th, reported new home buyer Traffic and Net Sales were at an average level not seen since May of last year. There was just under 1 sale for each of the 235 reporting projects and over 20 potential buyers coming through the doors each of their sales offices. The overall Traffic total each of the past two weeks has surpassed all figures reported since 2008! One interesting note on these data points is to add that the overall percentage of reported cancellations has remained fairly consistent between 10 and 16% of Gross Sales in 2016.
Nine builders reported over ten Net Sales and four of those, over 20. DR Horton continued their strong start to 2016 to lead all companies with 33 Net Sales across 28 communities. Rhodes Ranch by Century Communities was the top performing project for the week with eight Net Sales. We can increase that to nine when including the newly opened "Estates" line of larger homes within the community.
We reported two new projects this week which reported three sales total between them. DR Horton's Sunset Cove is a 66 lot neighborhood in the Southwest sub-market, specifically near Durango & Patrick with seven plans to choose from. Pardee also opened another offering in the Inspirada masterplan in Henderson with Escala. Prices there start at $495,000 and there are 75 home sites.
All of the data contained herein is gleaned directly from our Weekly Traffic & Sales Watch, the top weekly new home report in the region and, dare we say, the country. If you are not a current subscriber, Contact Us today to receive the most comprehensive and current data available in your Inbox each and every week.