D.R. Horton ranked No. 1 homebuilder in July

D.R. Horton was the top-selling builder in July as the industry brought more than 750 lots into the market as the size of new-home plans grew bigger.

D.R. Horton had 177 net sales with its Tempo Trails project the bestselling community in July with 26, according to Home Builders Research. It’s a townhome community in the southwest valley with prices at $385,000.

Las Vegas-based Home Builders Research said there were 10 new for-sale product lines opening in July that brought the 750 lots. Beazer Homes, Century Communities, KB Home, Richmond American Homes, Tri Pointe Homes and Woodside Homes were among those.

Heritage Peak from Beazer Homes is the first new-home project active in Boulder City that Home Builders Research said it has tracked since early 2023. The project offers two plans of 2,880 square feet and 3,180 square feet with prices starting around $900,000.

Century opened two of the four planned product lines for their Skyeview neighborhood in the soon-to-be built-out Skye Canyon master-planned community in the northwest part of the valley, Home Builders Research President Andrew Smith said. Nine of the 10 new communities that opened in July offered traditional single-family products while Seasons at Vandalia from Richmond American Homes features two-story duplexes, Smith said.

The overall net sales number for July was up 23 percent from June but down 7.4 percent from July 2024.

“The market is certainly seeing a decrease in the number of buyers that are ready to act,” Smith said.

This year’s distribution of new home net sales has remained similar to what was reported in 2024. Henderson and the southwest continue to lead the market, and North Las Vegas is showing growth, Smith said. Henderson has 28 percent market share while the southwest had 25 percent and northwest at 24 percent. North Las Vegas had 15 percent.

Home Builders Research reported the average size of selling new-home plans has increased by 6.4 percent since January.

Kent Lay, division president for Taylor Morrison, said the industry is going in both directions to provide smaller homes for affordability, but there’s also a market for people who want more space too.

“That trend was going smaller, smaller and smaller, and now there’s a market out there that wants larger single-floor plans and instead two-story plans,” Lay said. “It’s family dynamics. People are coming to need multigenerational homes. Empty nesters are finding they need more space now because they have grandkids that they are taking care of more than they thought they would, or someone coming to live with them. Families are combining.”

The average new-home base asking price in the market has risen by 19.8 percent since the start of the year, Smith said. The average price per square foot in January was $259.02 while in July it was $288.11, Smith said.

“Base asking prices continue to slowly shift higher,” Smith said. “Thus far in 2025, 25 percent of net sales have come in communities with an average base asking price over $600,000, compared to 21 percent overall in 2024.”

Of homes that closed in July, the median price of $425,000 remained unchanged from July 2024, Smith said.

Median new prices of homes that closed in July was $519,975, a 7 percent increase year over year. The price of single-family homes was $569,970, a 6.6 percent increase. Attached homes closed for $379,768, a 2.4 percent decline.

That contrasts to existing single-family homes that saw prices fall 2.8 percent in July to $455,000. Attached homes fell 2.6 percent to $265,000.

Smith said 17 percent of new home closings in July were cash transactions. Of those that were financed, the average loan amount was $484,953. The largest loan for a new home closing in July was $2.4 million by Orion Lending for a home by Toll Brothers in the Ascension community in Summerlin.

Compared with the existing home market, Smith said Clark County data shows 29 percent of resale home closings in July were cash transactions.

Of those transactions using financing, the average loan for the month was $419,917. The largest loan for a resale home closing in July was $5 million by US Bank for a home built in 2005 in The Ridges in Summerlin.

Builders are already gearing up for their next projects by acquiring more land in July. Smith reported there were seven vacant land closings adding 44 acres to their portfolios.

D.R. Horton acquired property at Boulder Highway and Sunset Road; Lennar acquired property at Windmill Lane and Edmond Street and Windmill Lane and Warbonnet Way; Pulte acquired land at South Rainbow Boulevard and Landberg Avenue; and Richmond American Homes acquired land at Cactus Avenue and Quarterhouse Lane.

Through July, builders have purchased 904 acres — 3.8 percent more than at the same point in 2024, Smith said.

Smith said local builders pulled 804 new home permits in July, a 28 percent increase from June and a 39 percent decrease from July 2024.