New home net sales did not waver much to close out May.

Our Weekly Traffic & Sales Watch reported a slight week-to-week decrease in new home net sales (new sales minus cancellations) during the final week of May.  Overall, the final three weeks of the month saw very similar numbers for all of the basic metrics tracked in the report including buyer traffic, sales, cancellations and standing unsold inventory. One thing that has shown an up-tick over the past two weeks is the number of actively selling communities in Southern Nevada. The year started with 247 reporting projects and after last week the number stands at 273, an 11% increase.

This past week two of those new projects come on-line.  DR Horton reported numbers for the "Bay" and "Grove" product lines at the Tribute project in the Skye Hills area of the northwest part of the valley.  The first of these feature three 2-story plans with prices in the mid-$400,000s.  The latter is an all single-story collection between 1,500 and 1,825 square feet.

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