LV New Home Market Update w/e Jan. 29, 2017

The Las Vegas New Home market continued along at a nice pace to end January 2017 with homebuilders reporting the highest net sales total since June 2016 to our Weekly Traffic & Sales Watch.  Accompanying that, we also reported another new high in the number of active projects not seen since 2009 (266).  

Reporting Active New Homes Projects - End of January

*As of the final week of January of each year (Source: Weekly Traffic & Sales Watch)

...Pretty amazing to see some of those numbers.  

The top selling builder for this week was Richmond American, which headed a group of four builders topping the 20 net sale plateau.  Other builders posting good sales numbers on a per-subdivision level (>1 sale per project) were Century Communities and Storybook Homes.  The top selling project reported was Tuscany by Century with six net sales, bringing their monthly total to 15, nearly double their per month average of 8 from the past three months.  DR Horton's Expressions ended up and the top selling project for the month of January with 16 net sales, also beating their per month averages.

There were three new projects reporting this week.  The first is the latest opening in The Cliffs at Summerlin by Toll Brothers, Granite Heights.  It is their third project in The Cliffs (Ironwood & Regency), and offers three plans from $764,995.  DR Horton's next offering in their Express Homes line is Paseo Pointe in Henderson with 122 homesites starting under $280,000.  Finally we saw Beazer Homes re-enter the Pahrump market where William Lyon had been the only production builder for many years.  Burson Ranch is a reboot of a previously stalled project and has over 550 lots with base prices all under $165,000.  

Keep an eye out for our final 2016 reports for both housing and land sales as well as other new offerings soon to come.  Don't forget to subscribe to the Weekly Traffic & Sales Watch to be informed on the new home segment with the most timely and accurate data available, hands down.

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