New home sales dipped sharply during the week Nevada shut down all of its casinos and nonessential businesses, but nearly 200 sales took place, and prospective buyers continued to keep appointments to tour model homes of builders.
The availability of sufficient water resources to meet the needs of an expanding population will continue to be a challenge for the Southern Nevada Home Builders Association and its community partners over the next decade.
Las Vegas has shut down to the world for gaming and hospitality as it deals with COVID-19, but the homebuilding and existing home sales’ industries continue on despite the blow to the economy that’s already caused a halt to some sales and postponement of others.
The Las Vegas new-home market closed February with its strongest week of net sales in years, and a leading housing analyst said prospective buyers haven’t slowed down in checking out model homes through early March as builders target buyers with new projects with lower prices.
New home sales slightly dipped in 2019, but don’t tell that to the valley’s five largest builders who saw their share of the marketplace jump dramatically since 2017 to two thirds last year.
Homebuilder Century Communities has taken over as the master plan developer of Skye Canyon in northwest Las Vegas by acquiring the remaining 400 acres for development not already assigned to builders. The price was $59.1 million.
The Las Vegas new-home market got off to its hottest start in 13 years and there are signs builders are focusing even more on town homes and affordability that’s bringing out the buyers.
It’s been quite an eventful week for the Southern Nevada building and development community, which came under the national spotlight and won awards at the International Builders’ Show at the Las Vegas Convention Center.
A growing number of homeowners want smart home technology and builders and Realtors are recognizing that if they want to close a sale.
Steady and better than 2019. That’s the outlook for the 2020 Las Vegas housing market — both new and existing homes when it comes to sales — and there should be slight price appreciation in both segments as well, according to housing analysts, Realtors, builders and economists who track the Southern Nevada home market.
In December, the Southern Nevada Home Builders Association (SNHBA), held its annual installation luncheon, a yearly gathering where members of the local homebuilding industry celebrate the appointment of the organization’s new board, which will take the torch and continue to drive SNHBA’s dedication to meet the housing and community development needs of Southern Nevada. The event also serves to award outstanding members and supporters in this sector.
Sheryl Palmer said she feels like she’s coming home again and couldn’t be more optimistic about a “tremendous opportunity” in the new home market in Las Vegas after working here during its peak in the 2000s.
The PENTA Building Group, a nationally recognized commercial contractor operating throughout the Southwest United States, has officially donated more than $8 million to 350 charities since 2000. Through its charitable organization, the PENTA CARES Foundation, the company gives back to communities by donating employee volunteer time and hundreds of thousands of dollars in monetary contributions to local nonprofits every year.
In the tradition of re-gifting, The Howard Hughes Corp., developer of the Summerlin master-planned community, encourages residents to give back their real Christmas trees to Mother Nature once the holidays are over. In partnership with Springs Preserve, the UNLV Rebel Recycling Program and dozens of other local conservation organizations, the annual Christmas Tree Recycling Program returns Dec. 26-Jan. 15.
The president of Summerlin said he expects 2019 to approach last year’s sales and described how the master-planned community is well-positioned to continue its growth in 2020 as it celebrates its 30th anniversary with plans to open residential development north of Far Hills Avenue with a greater focus on affordability.