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Southern Nevada homebuilders had another solid week of sales, coming in just a hair under the 2019 high reported the previous week.

The spring selling season is in full swing in the Las Vegas Valley as Q1 2019 closed out on a high note with over 250 net sales reported in our Weekly Traffic & Sales Watch for the second straight week as well as the second highest overall buyer traffic total of the year.  Despite the last two strong weeks, the average net sales total for Q1 2019 came in 19 percent lower than we reported in 2018.  As we have stated elsewhere, we do not attribute this so much to a "weak" 2019, but to an extremely strong start to 2018.  The following graph shows the overall weekly sales total for Q1 2018 vs. 2019.

Q1 Net Sales 2018 vs 2019

Richmond American Homes amazingly reported over 50 net sales for their 29 reporting communities and three other builders reported over 30 net sales.  57 percent of reporting builders averaged 1 or more sales per community.  The "Heights" section of Pulte Homes' Reverence community in Summerlin was the top performing project this week with 11 net sales.

There were two newly reporting communities to the Weekly Traffic & Sales Watch, Infinity Bay from DR Horton and Solana Terrace from Signature Homes.  Infinity Bay is an infill project near Sahara Ave. and Decatur Blvd. with 20 lots sized around 4,000 square feet.  Prices start in the mid-$300,000s.  Solana Terrace is actually the third phase of the community that originally dates all the way back to 2008 on the east side of the valley.  They offer two floor plans and prices start under $200,000.