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After four straight weeks of exponential sales depreciation, Southern Nevada homebuilders reported a week-to-week increase for the week ending April 12th.

After reporting a dismal 38 new home net sales (new contracts minus cancellations) to begin Q2, local builders reported just under 50 sales for the week ending 4/12.  Obviously this is still an extremely low total for what should be the traditional "spring selling season," any positive news is more than welcome at this point.  The cancellation percentage (cancellations / new contracts) also improved from a high of 60% the previous week.  For all of the specifics, subscribe to our Weekly Traffic & Sales Watch.  It really is the most affordable and timely way to keep up with the new home segment.

We have also recently distributed all of our monthly and quarterly new home market reports to subscribers with March and Q1 data.  The following graph is taken directly from our monthly New Home Market Share Analysis and breaks down the distribution of new home closings by sub-market area for March and for the past 12 months.

New Home Closing Market Share by Area


We also recently announced that we will be holding a webinar on April 23rd to replace our annual Housing Outlook conference which had to be cancelled due to COVID-19.  Click here for more information and to register now.  As always, registration will include a copy of our slide deck after the presentation is over, which is worth well more than the price of admission in and of itself.