For the week ending August 6th, the new home market in southern Nevada again remained steady, hovering around 200 net sales across 250+ reporting projects. The cancellation rate however, broke the 20% mark for only the second time in 2017. Earlier this year we suspected that we may see a steady uptick in cancellations but this has failed to materialize thus far.
Lennar Homes led all builders with over 30 net sales with American West Homes, Century Communities, Beazer Homes, Storybook Homes, Warmington Residential, and Del Webb Communities also averaging over 1.2 net sales per project. The two product lines from Century Communities at the Skye Canyon Master Planned Community in the northwest combined to lead all subdivisions with eight net sales for the week. We did not report any new projects in our Weekly Traffic & Sales Watch this time around. As July is now in the rearview mirror, let's look at the top selling builders and subdivisions from that month:
TOP 5 BUILDERS - NET SALES - JULY 2017
TOP 5 NEW HOME PROJECTS - NET SALES - JULY 2017
An interesting note here, Bilbray Ranch Square by DR Horton in LAUGHLIN finished just outside the top 5 with 13 net sales.
As an added bonus this week let's look at the July totals for the major master planned communities in the Las Vegas Valley which accounted for 38% of all reported net sales...
JULY 2017 NET SALES BY MASTER PLAN
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