Subscribers have recently received the latest issue of our popular Las Vegas Closing & Permit Report which features new home data for March 2016.
As previously reported, March closings jumped back to end of 2015 levels after a slow start to the year. Despite the increase in "higher end" production projects, the majority of the top consistently selling subdivisions are obviously those averaging under a $400,000 base price. Another interesting fact is the Top 5 closers for March were spread across the valley in the SW, NLV, NW, and Henderson sub-markets. The top performer amongst those projects that have just began closing sales in 2016 was Ashmore by Lennar in the SW with 11. While the big master plans are doing well, the closing activity seems to be pretty equally distributed between those projects in master plans, and those that are not.
Permit activity was also strong in March with over 20 projects pulling at least 10 permits, led by Beazer's Dorado Skies project in North Las Vegas.
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