For the week ending September 25th the new home market in the Las Vegas valley continued along at basically the same pace we have seen since around the end of July. We are reporting an average of 0.6 net sales per subdivision again this week. The number of active reporting subdivisions climbed to 260 which another new high since the recession. DR Horton is reporting the most active communities with 36.
Builders With The Most Active Projects
Three builders reported over 20 net sales this week led by American West Homes, who reported 25. Their Jones Crossing community was also the top selling single subdivision with 6 net sales. This is the first time in recent memory that a private builder has reported the most net sales during any week.
CalAtlantic (formerly Ryland) Homes reported the only new community this week with Regatta Pointe. This is the first of two new projects for them in the Lake Las Vegas master plan. The community contains 59 lots which will feature homes ranging from 2153 to 2856 square feet.
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ALSO, mark your calendars for Thursday, October 27th as we will be holding another installment of our Las Vegas Housing Outlook Webinar series to give a complete update on the market. More info and registration to come shortly...