LV New Home Market Update w/e Feb. 12, 2017

New home traffic and net sales remained at the seasonally healthy levels we've seen for nearly all of the new year thus far according to our Weekly Traffic & Sales Watch for the week ending February 12th.  While sales dropped off slightly from the spike we saw the previous week, we are still reporting a Net Sales per Subdivision figure of 0.7, which as we've said is very respectable for this time of year.  The cancellation rate across the 267 reporting projects also remained steady around 15%.

DR Horton again led the way in overall net sales, which shouldn't be surprising as the also boast the highest overall number of active projects in town with 34.  On a sales per subdivision level, the builders with the highest numbers were Harmony Homes, Summit Homes, and Beazer Homes in that order.  All of these builders have six or less communities currently selling.  Beazer has reported a strong first two weeks of selling at their re-entry into the Pahrump market at Burson Ranch, which we mentioned last week

Three new projects appeared in this week's report in three different areas of town.  DR Horton's luxury Emerald Homes line began reporting for the 2nd phase of their non-HOA Foothills Estates in Henderson near US-95 and College Dr. with 10 new lots.  KB Home has started selling at what will be one of the last communities in the Providence master planned community known as Oxford Commons.  The project has 33 lots with plans ranging from 1760 to 2469 square feet.  KB also opened Serene Canyon in the far SW valley off of Blue Diamond Rd. west of Ft. Apache.  There are currently 42 lots, but this number will expand to more than 100 over time.  Plan sizes are similar to those at Oxford Commons.

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