LV Weekly New Home Traffic & Sales Update

For the week ending September 17th, new home traffic and sales activity in southern Nevada held on to respectable numbers after dipping slightly for two weeks.  Builders averaged 0.7 net sales per subdivision overall, while buyer traffic remained basically similar to levels reported for the majority of 2017.  KB Home led all builders with 25 total net sales while American West Homes and Del Webb reported strong average numbers (over 1.0 per project).  Corresponding to this, Jones Crossing from American West and Oxford Commons at Providence from KB Home were the top selling projects for the week with six net sales apiece.  Burson Ranch in Pahrump from Beazer Homes continued its strong performance with five net sales.

Beazer also began reported one of the three new projects added to our Weekly Traffic & Sales Watch this week.  San Gregorio in Henderson contains 27 lots and has base prices in the mid $300s.  Lennar Homes has opened another project in North Las Vegas called Crescent Hill with 151 homesites and plans ranging from 1654 to 2510 square feet.  Finally, William Lyon Homes has opened the last of four product lines at its Affinity community in Summerlin.  Plans in the Revo collection range from 2047 to 2492 square feet and are priced in the $400s.

As we head into autumn, we will be continuing to watch the decreasing number of standing unsold inventory homes as well as the weekly cancellation rate which has remained steady between 16% and 20% for most of the year.  You can track these numbers as well by subscribing to the Weekly Traffic & Sales Watch today.