Las Vegas Weekly Traffic & Sales Summary

For the week ending July 10th, new home buyer traffic remained strong while net sales dipped to a per subdivision figure not reported since January.  This can be attributed to a high cancellation percentage (nearly 25%).  A high number of cancellations from large scale builders CalAtlantic Homes and Richmond American Homes were the biggest reasons for this.

 

DR Horton once again led all builders with a reported 22 Net Sales, two of which were reported from their newly opened products lines in Laughlin under their "Express Homes" label.  Bilbray Ranch Falls and Bilbray Ranch Square debuted this week as DRH returns to their old stomping grounds after the project was temporarily taken over by Harmony Homes from May 2011 until January of this year.  The original incarnation was begun by DR Horton in 2006.  A third new product line will also be opening in the coming weeks.

 

The other new project reporting this week was the Brunello line, part of Toll Brothers' Milano community in the Inspirada master plan in Henderson.  The second of three lines within Milano, Brunello boasts 45 single-story home sites with prices starting at just under $165 per square foot.

For all of the latest on the New Home segment each week, subscribe to the Weekly Traffic & Sales Watch today.  The report is also the basis for our monthly and quarterly summary reports which have just been updated for June and Q2 2016 and are available for download or subscription.