LV Weekly New Home Traffic & Sales Update

For the week ending July 30, 2017 the new home segment of the Las Vegas housing market saw overall net sales (sales minus cancellations) dipped slightly, reporting the lowest overall total since early February.  However, on a "per subdivision" level, the data is still showing the same consistency we have seen for the majority of 2017.  Buyer traffic has also returned to the 2017 "norm" after dipping slightly in June (probably due to the extreme heat during that time).

Buyer Traffic per Subdivision

Net Sales per Subdivision

KB Home led all builders in overall net sales with 31 across 30 reporting projects.  Eight of the 22 reporting builders reported double digit sales and on a "per subdivision" level American West Homes, Century Communities, Del Webb Communities, Harmony Homes, KB Home, and Woodside Homes all averaged more than one net sale for each of their projects.  Del Webb's Sun City Mesquite led all projects with five net sales followed by ten others around the Las Vegas valley that reported four. 

There were two newly reporting projects this week, the first of which was Monarch Manor by DR Horton.  It is a 12 lot community in the northwest sub-market with prices ranging $417,990 to $432,990.  The second was Watermarke by Lennar Homes, a rebooted attached project from Meritage Homes in Mountain's Edge.  It will offer units ranging from 1071 to 1480 square feet.

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