108°F
weather icon Cloudy

Demand for new Las Vegas homes increases

New home closings are on the upswing in Southern Nevada and should finish the year ahead of the 2016 pace.

Las Vegas-based Home Builders Research reported there were 2,371 closings during the third quarter, a gain of 5.3 percent or 119 transactions over the third quarter of 2016. Through the third quarter, there were 6,644 closings, a gain of 907 over 2016, a 15.8 percent increase.

“The consumer demand has continued to be stronger than we envisioned earlier this year, so we have amped up our 2017 projection a little for the new home closings,” said Dennis Smith, president of Home Builders Research.

Smith said there will be about 9,000 new home-recorded sales in 2017, which would result in a 13 percent increase over 2016, Smith said.

Don't miss the big stories. Like us on Facebook.
THE LATEST
Tri Pointe offers Summerlin town homes

Vertex by Tri Pointe Homes in Summerlin offers convenient and low-maintenance town home living with the added benefit of a private backyard and patio more typical of a single-family home.

April sets record for 2024 new home sales

The Las Vegas new-home market recorded its best month of the year for the number of net sales per week as buyers continue to purchase, especially attached products, despite elevated mortgage rates.

Summerlin offers age-qualified communities

Heritage by Lennar, is located in the village of Stonebridge and has three remaining single-family detached homes available that range from 1,232 square feet to 1,422 square feet, priced from the $500,000s.

Lennar brings seven new neighborhoods to Cadence

Top-ranked builder Lennar is making a splash at Cadence this summer with the opening of seven neighborhoods. The new collections include Brighton, Carlton, Preston Crest, Preston Enclave, Preston Point, Preston Terrace and Preston Village.

Downtown Summerlin announces summer events

While the temperatures heat up, so does the activity at Downtown Summerlin, the dynamic and walkable urban core of the Summerlin master-planned community. This summer, there’s a full schedule of events and activities for the entire family.

BHHS hosts inaugural Sunshine Kids Golf Tournament

Berkshire Hathaway HomeServices Nevada Properties held its inaugural Sunshine Kids Golf Tournamenta April 24 at Wildhorse Golf Club to support local youth battling cancer.

Christopher Homes debuts luxury collection

Christopher Homes announced the opening of a new $30-million model home collection featuring five hillside estates within SkyVu in Henderson’s MacDonald Highlands.

Summerlin Trail System continues to evolve

In a growing area of the community west of the 215 Beltway, multi-modal trails and a central urban trail are planned to expand access for cyclists and pedestrians, connecting them to a future planned urban center. An emerging trend nationwide, “complete street” design accommodates multi-modal transportation in a more integrated and safe manner.

Las Vegas builders optimistic about market

Las Vegas new homebuilders are optimistic about the market after recording their best three-month stretch since interest rates started rising in 2022.