Las Vegas Weekly Traffic & Sales Update

After record breaking week to close out February, the new home segment of the Las Vegas housing market returned to the same steady pace we've seen for most of 2016 for the week ending March 6th.  The overall Net Sales total was down nearly 50 from the week before, but still was the 2nd highest reported total of 2016.  Consumer traffic remained steady at nearly 20 units per subdivision for the week.

KB Home just edged both Lennar and Richmond American for the highest number of Net Sales by an individual builder with 30.  The three accounted for nearly half of all sales while comprising a little over 30% market share of active projects.  Richmond's Symphony line inside Henderson's Cadence master plan was the top performing project this week, reporting six sales.  Discounting Lennar's active adult "Heritage" project which just recently opened, Richmond American has markedly out performed the competition inside Cadence averaging over six sales per month thus far.

Richmond American also began reporting a new project dubbed Rainbow Ridge in the NW off of Ann Rd. and Rainbow Blvd.  Prices start at $274,950.  Summit Homes also debuted Willow Ridge, a 36 lot community in the SW sub-market.

Subscribe today to the Weekly Traffic & Sales Watch to get the most comprehensive and timely data on the new home segment each week.  Also, don't forget to register for our next Las Vegas Housing Outlook presented by Southwest Gas on April 8th at Cashman Center.