O'Brien-Nikolov Team
Larry Murphy of Salestraq prepared the following comprhensive report regarding the Las Vegas New Home market.
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| Las Vegas' Top 12 |
Nov 2008 thru Oct 2009
Tel. 702.255.7891
|
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| but not guaranteed. | Home Builders | Source: SalesTraq™ | ||||
| Builder | Permits | Closings | Avg Price | Active Subs | Lots Rem. | |
| RICHMOND AMERICAN | 474 | 397 | $205,858 | 21 | 1,155 | |
| KB HOME | 426 | 528 | $210,414 | 10 | 753 | |
| D R HORTON | 352 | 784 | $228,805 | 17 | 928 | |
| RYLAND | 309 | 276 | $237,157 | 11 | 1,074 | |
| LENNAR | 301 | 380 | $232,162 | 19 | 1,151 | |
| PULTE | 279 | 399 | $255,017 | 11 | 526 | |
| WOODSIDE | 227 | 250 | $284,047 | 9 | 332 | |
| PARDEE | 170 | 189 | $301,338 | 10 | 1,084 | |
| AMERICAN WEST | 151 | 91 | $333,136 | 10 | 1,094 | |
| RHODES | 134 | 206 | $274,391 | 6 | 260 | |
| HARMONY | 101 | 51 | $236,898 | 6 | 271 | |
| BEAZER | 99 | 94 | $220,397 | 15 | 1,982 | |
| Top 12 Total | 12 | 3,023 | 3645 | $240,121 | 145 | 10,610 |
| Market Total* | 39 | 3,484 | 5308 | $265,592 | 235 | 21,939 |
| Top 12 Market Share | 31% | 87% | 69% | 62% | 48% | |
| *39 Builders pulled permits in past 12 months | ||||||
In the past 12 months, Richmond American has pulled more
housing permits than any other builder, while D R Horton has sold more new
homes than any other builder.
Builders who appear more bullish on the housing market and
have pulled more permits than they have had closings, include Richmond American,
Ryland, American West, Harmony, and Beazer.
Builders appearing more bearish, pulling fewer permit than
they have had closings include KB Home, D R Horton, Lennar, Pulte, Woodside,
Pardee, and Rhodes.
Pardee has the highest average closing price at $301,338 while
Richmond American has the lowest, at just $205,858. The highest price per
sq foot belongs to American West, at $120.12, while the lowest goes to Harmony
at $89.96.
Richmond American has more new home subdivisions currently
open (21) than any other builder, and Lennar is a close second with 19.
But the highest sales rate per subdivision during this period belongs to D R
Horton with an average of 22 sales per subdivision, and the lowest was American
West with 6 sales per subdivision. (Based on the number of
subdivision which had closings during past 12 months, regardless
of how many are currently active.)
So what does the year 2010 hold for Las Vegas' home builders?
I'l let you calculate your own estimate! Here's a ten year
history of new home closings in our town:
| 2000 | 20,508 | |
| 2001 | 22,062 | |
| 2002 | 22,606 | |
| 2003 | 25,025 | |
| 2004 | 29,187 | |
| 2005 | 38,705 | |
| 2006 | 35,291 | |
| 2007 | 19,462 | |
| 2008 | 9,965 | |
| 2009 est | 5,000 |
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