For the week ending April 28th, local homebuilders reported above average sales for the 11th time in the last 13 weeks.

 While new home sales numbers in Southern Nevada were down from the previous two weeks, builders reported 0.8 net sales per project to our Weekly Traffic & Sales Watch report which covers roughly 96% of the active new home projects in the area.  We consider anything over 0.7 to be 'above average' and we have seen such numbers consistently since early February.  Overall numbers are still down from 2018, but we are not surprised by this (for more on this check out our presentation from Housing Outlook 2019 or our Housing Market Letter).  

The overall leaders in terms of sales volume for the week were Lennar Homes and KB Home but based on average sales per project, Pulte Homes was the top performer averaging four sales each across nine active communities.  They and KB had the best performing individual communities this week with six net sales apiece at Reverence Heights in Summerlin and the Gardens collection at Saddlebrook in the Villages at Tule Springs in North Las Vegas.

There were no new communities reporting this week.

In our bi-weekly base price update we are reporting a conservative number of price increases (7% of projects) and just a few decreases with the bulk of communities going unchanged.