LV New Home Market Update w/e Feb. 5, 2017

Homebuilders across the Las Vegas valley started February with a bang, reporting the 5th most total Net Sales to our Weekly Traffic & Sales Watch going back to 2009.  While 2016 had some very strong selling weeks, the majority of the high overall totals we see occur during the warmer months.  While the weather here has been much better of late, it has become quite rare to see such a high number of total sales in January or February.  Only 7 of the top 50 selling weeks, again going back to 2009, occurred outside of the March-October window.

Highest Number of Reported Net Sales 2009-present

Source: The Weekly Traffic & Sales Watch

Cancellation rates have also remained manageable and we will be anxious to see if governmental or Federal Reserve decisions in the near future will affect this, as some fear.

There were no new communities reporting this week and Rhodes Ranch from Century Communities was the top performing community with eight reported net sales.  Richmond American Homes and Lennar Homes each reported over 30 net sales for the week.  Beazer Homes and Century Communities also reported more than 1 net sale per project. 

NET SALES % BY SUB-MARKET AREA

Source: The Weekly Traffic & Sales Watch

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