New home activity in the Las Vegas Valley remained steady as summer continues.

For the week ending July 28, 2019 Southern Nevada homebuilders continued chugging along through the heat of July.  As we wrap up another month, Lennar and KB Home were the only builders reporting over 100 net sales for the month, as they were in June.  The two companies reported 35 percent of all new home net sales in July according to our Weekly Traffic & Sales Watch.

There were no new subdivisions reporting this week and four communities were removed after selling out bringing the total number of reporting subdivisions to 251.  Of these, 43 percent reported at least one sale.  Lennar had the two best performing projects in Rose Ridge (Henderson), and Monterey (Mountains Edge).  Rose Ridge opened in November 2016 and has averaged nearly nine net sales per month in that time.  The project has sold 72 percent of the 403 total lots.  Monterey is an even larger (543 lots) community dating back to 2014 and has averaged almost seven sales per month over its life and has had a recent boost in sales averaging nine per month over the past three months.  It was the only community of the four remaining projects in the Mountains Edge MPC that reported any sales.  The graph below shows net sales for this week by master planned community.

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