LV Weekly New Home Activity Update

For the week ending July 23rd, the Las Vegas new home segment once again continued along at a similar pace, with homebuilders reporting 0.8 net sales per project in our Weekly Traffic & Sales Watch.  DR Horton led all builders in overall sales with 30, but on a "per project" level, American West Homes continued their impressive sales performance with an average of over 2 sales for each project.  They were the only builder with more than one active community to achieve this level of sales.  On the week, 45% of communities reported at least one net sale.

Two American West communities, Jones Crossing and The Highlands Collection, trailed just behind Lennar Homes' new attached project in North Las Vegas "The Hudson" in overall net sales.  The Hudson has performed well since opening in May, averaging over 3 net sales per week.  It is our strong belief that we will see more builders opening attached projects in the coming months, something that all but died out after the recession.

Summit Homes debuted the only new project in the report this week with Valona, a 25 lot community in the northwest.  Prices start in the mid $300,000s on plans ranging from 2773 to 4039 square feet.

The real estate industry is southern Nevada has a unique tool in our Weekly Traffic & Sales Watch.  It has become a staple for leading companies and professionals by providing the most comprehensive and up-to-date data available, and is the backbone of many of our other reports.  Subscribe now and get on pace with what is happening week-to-week.