LV Weekly New Home Traffic & Sales Update

For the week ending September 3rd homebuilders reported the lowest net sales totals for 2017.  Not since week ending January 15th have overall net sales dipped below 160.  Buyer traffic did not register the same drop off, actually remaining at the high end of what we have seen this year.  

No single builder reported 20 or more net sales for the first time in recent memory as KB Home and Lennar Homes both posted 17 net sales to lead the way.  American West Homes, Century Communities, Del Webb, Harmony Homes, and Storybook Homes averaged more than 1 net sale per project for the week.

We reported four new projects in the Weekly Traffic & Sales Watch this week, including two attached products in Summerlin.  CalAtlantic Homes has opened Santa Rosa in the Paseos, a gated townhome community with two different product lines, Alameda and Bellamar.  William Lyon Homes has begun reporting two of the four product lines at their Affinity community near Charleston and 215.  The Evoke and Savu lines have base prices ranging from $326,000 to $483,000.  

Pardee Homes opened their second product line at the Skye Canyon masterplan in the far northwest.  Cobalt now accompanies Keystone which opened one year ago with slightly lower base prices starting at $360,000.  Summit Homes continues to branch out into larger and pricier homes, opening Mountain Terrace, a 12 lot project in the northwest sub-market priced around $500,000. 

These weekly blog posts offer just the tip of the iceberg in comparison to the Weekly Traffic & Sales Watch.  Get the most comprehensive and timely new home market report emailed to you each week by subscribing today.