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After a drop in activity during the long holiday weekend, local homebuilders stayed the course.

For the week ending July 14, 2019 Southern Nevada homebuilders reported an average of 0.8 net sales per project.  We have reported this same level of sales nearly 50% of the time in 2019.  Lennar, American West, and Shea Homes reported the strongest sales figures on a per project basis, all selling more than one home home per community on average.

Lennar's Cortona at Southern Highlands was the top selling community of the week with a half a dozen sales.  Interestingly, of the top 10 selling projects this week, it was the only one that was opened before 2017.  We did not report any new communities this week and have only reported two over the past four weeks.  The following graph shows the number of new communities opened each month over the past 12 months.

New community openings have slowed the past few weeks

 Don't forget to sign up for our mid-year housing update webinar coming up on July 23rd at 10am.  We will be giving a run down of all the key metrics used to track the market with a focus on new homes.  Don't miss this opportunity for a big picture breakdown.  Also, if you can't make it at that time, you should still register because the price for the recording will go up after the fact.