LV Weekly New Home Traffic & Sales Update

For the week ending August 27th, homebuilders rebounded from a tough week in our previous Weekly Traffic & Sales Watch to report 18% more sales and return to 2017's "normal" levels.  We are also noticing a 5.6% decline in the number of active subdivisions in the report since a high of nearly 270 back in February.  This should help temper the talk of over-building that many seem to be worried about.  While builders are certainly opening new projects as quickly as possible, they are also successfully closing out existing projects at higher rate.  There are surely some deeper points that can be examined here, but we'll leave that for another time and state that, in general, one can say this is a truth in the current environment.

DR Horton and KB Home once again led the way in overall sales, but American West Homes, Beazer Homes, Century Communities, Del Webb, and Storybook Homes also performed well when looking at the average sales per project.  Beazer's Dorado Skies in North Las Vegas was the top performing subdivision with seven net sales for the week.  Of the projects reporting 4 or more net sales (14), 3 were in North Las Vegas, 5 in the southwest, 4 in Henderson,  and 1 each in Mesquite and Pahrump.

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