Las Vegas Weekly New Home Market Update

For the week ending May 27, 2018 new home sales slowed slightly from what we have been reporting for most of 2018.  The average number of net sales per reporting subdivision in our Weekly Traffic & Sales Watch dipped to a level we haven't seen since early January.  Buyer traffic however did not show the same behavior and stayed steady.  Also, the cancellation rate dipped back down to just a hair above 11% (which is good).  The chart below shows the weekly cancellation rate going back six months:

Weekly Cancellation Percentage

via The Weekly Traffic & Sales Watch

There were no new projects reporting activity this week.  Our bi-weekly survey showed that 19% of active new home plans reported a rise in base asking priceJones Crossing by American West Homes and Parkview by Century Communities were the top performing communities with six net sales apiece.  No surprise there as both of these projects have consistently done very well over their lifetimes. 

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