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Las Vegas Weekly New Home Update

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Category: 2022

Southern Nevada homebuilders have started 2022 of well, reporting nearly 600 new home net sales over the first two weeks of the year. 

Coming off of the typical holiday season 'lull' in sales activity, the new year has gotten off to another hot start, similar to both 2020 and 2021.  Both Pulte Group (Pulte Homes, American West Homes, & Del Webb Communities) and Lennar have already reported over 100 new home net sales (new contracts minus cancellations) to our Weekly Traffic & Sales Watch.  The majority of builders are still in the position of selling all (or nearly all) the lots they release almost immediately.  This past week for example, Touchstone Living reported 30 sales across their three active projects keeping their total of unsold lots/units at zero.  Demand continues to outpace production thanks to the now all too familiar supply chain issues that have plagued the industry (and the larger economy) for nearly two years now.

There were no new projects reported for the week ending January 16th, and the results of our bi-weekly update of base asking prices showed the nearly constant increases that have occurred for many months are not stopping any time soon, particularly with lumber prices once again climbing higher and higher.  Our survey of builder websites showed that 48 percent of the communities reporting to us had increased base asking prices over the past two weeks. 

Our complete roster of monthly reports  will be released by week's end and the 2021 Annual Report shortly thereafter so watch your inboxes.  If you don't already subscribe, be sure to get signed up on our website.  As a reminder, these reports include: