There were 826 new home permits issued in the Las Vegas MSA in June by 25 homebuilders. The top four (4) builders obtained 52% of these permits. Lennar Homes obtained the largest share at 14.4% and KB Home was second at 13.6%.
Home Builders Research recorded 19,992 visits (traffic) to new home projects by 23 homebuilders in the Las Vegas MSA in July. 669 visits were converted to sales for an overall conversion rate of 3.5%. Signature had the highest conversation rate at 22.2% (2 out of 9 visits) and Lennar Homes had the highest number of conversions at 99, followed by Ryland Homes with 89 and KB Homes with 73 conversions. William Lyon Homes had the largest amount of traffic at 2,473, followed by KB Homes with 2,421 and Ryland Homes with 2,325 visits.
17 master-planned communities in Southern Nevada obtained 392 new home permits during June. Summerlin led the group with a 16.8% share closely followed by Inspirada with a 16.6% share. The top four (4) communities accounted for a 53% share.
According to Home Builders Research, on a submarket basis, the three most popular residential market areas in Southern Nevada – Henderson, the Northwest, and the Southwest – continued to lead in June. The Southwest had the largest new number of new home closings in June with 225, a 36% share. The Northwest came in second 152 closings and a 24% market share, and third was Henderson with 143 closings and a 23% share.