New home net sales remained steady as the weather starts to heat up.

Our Weekly Traffic & Sales Watch reported another week-to-week increase in new home net sales (new sales minus cancellations) during the third week of May.  The cancellation rate also ticked down for the second week in a row.  The graph below also shows the drop in buyer traffic that has occurred thus far this month.  This might mean the market is getting back into a period where less folks are out looking at new homes, but those that are seem to be very serious buyers (which we saw a lot in the second half of 2020).

This past week saw a rather large number of new communities reporting to the report (10).  DR Horton debuted the Falls collection at the Tribute project in the Skye Hills area of the northwest, consisting of 130 homes.  KB Home had a big week for openings with five new product lines reporting.  Copper Ranch in the southwest features 301 lots with both 25 and 35 foot wide floorplans.  Gilmore Grove is in the northwest with 59 lots and prices in the $400,000s.  Also in the northwest they have Montalado North which also offers their "Landings" and "Reserves" collections.  Pulte Homes opened Delamar in the southwest with 115 lots and homes up to 4,220 square feet.  Richmond American brought three new communities on-line with Monarch Meadow and Seasons at Monarch Valley in the southwest near Cactus and Valley View and Seasons at Fullerton Cove near Revere and 215 in North Las Vegas.