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After six strong weeks of sales, homebuilders reported 'average' results for the week ending April 7, 2019.

In our Weekly Traffic & Sales Watch for the first week of April, we are reporting a 32 percent week-to-week drop in net sales (new contracts - cancellations).  This is more of a sign of how strong the previous two weeks have been rather than a sign of a 'bad' week of sales to start the second quarter.  However, when looking at 2018 there was considerably more activity during this prime selling season.

KB Home and Lennar Homes unsurprisingly led all builders in net sales, accounting for 36 percent of the total.  Looking at average sales per project, Shea Homes, Signature Homes, and Harmony Homes had the strongest week as the only builders with more than one sale per reporting community.  The following graph shows the net sales breakdown by product type.

Net Sales Breakdown by Product Type

KB Home reported three new "affordable" projects this week.  The first two are within the Saddlebrook community at the Villages at Tule Springs master planned community in North Las Vegas.  Their popular 'Groves' line of townhome products has been very successful in the Inspirada mpc in Henderson and will have 137 lots with base prices starting under $300,000.  The 'Gardens' line of detached homes feature even lower base asking prices for floor plans ranging from 1558 to 2041 square feet.  KB also debuted 'Woodbury' in the northwest sub-market.  It is an infill parcel at Rainbow Blvd. and Vegas Dr. and also features base prices under $300,000.

Woodside Homes also began reporting their San Carlo townhome project in Henderson near Lake Mead Pkwy. and US-95.  The community offers three plans 1499 to 1729 square feet.  Refer to the map below for locations of these new communities. 

For a deep dive into the performance of the new home segment each week, subscribe to the Weekly Traffic & Sales Watch today.