4 Las Vegas Valley communities among top in US for new home sales

Workers construct houses near the corner of Mesa Park Drive and Hualapai Way in Summerlin, Friday, May10, 2019. (Chitose Suzuki / Las Vegas Review-Journal) @chitosephoto

Four Las Vegas Valley communities are in the top 25 nationally for builders’ sales this year. But all are fetching fewer deals than last year amid a drop in sales throughout Southern Nevada.

Builders sold 675 homes in Summerlin this year through June, fourth-highest among U.S. master-planned communities, according to a report Tuesday from real estate consulting firm RCLCO.

In Henderson, builders sold 344 homes in Inspirada, 12th most in the country, and 321 homes in Cadence, 14th highest.

And in the upper northwest valley, buyers picked up an estimated 260 homes in Skye Canyon during the first half of the year, according to preliminary figures that ranked the community 23rd in the nation for sales.

Last year, builders closed the most sales in Southern Nevada in more than a decade as buyers paid record prices for newly built homes. But sales volume overall has tumbled this year as buyers move away from builders’ best-selling product in Las Vegas — the single-family house — and gravitate toward less-expensive condos and townhomes.

Overall, new home sales in Summerlin were down 13 percent this year from the same six-month stretch in 2018, 28 percent in Inspirada, 4 percent in Cadence and 8 percent in Skye Canyon, RCLCO reported.

The figures represent newly signed sales contracts minus any cancellations. RCLCO did not provide a breakdown by home type or median prices.

Sales may have tumbled in Southern Nevada, but on average, the nation’s 50 top-selling master-planned communities had about 3 percent more sales than in the same period last year, according to RCLCO’s report by managing director Todd LaRue and vice president Karl Pischke.

All told, home sales in the 50 communities “exceeded expectations” in the first half of 2019, and by year’s end, the sales tally could end up 10 percent higher than it was in 2018, they wrote.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

Source Article