From the Home Builders Research, Inc
In November there were 762 new home recorded sales. This places our 2016 total at 7,035, a year to year increase of 890 closings, or 14.5 percent. It certainly appears that the new home segment of the Las Vegas housing industry is ending this year on a much stronger pace than we envisioned back in the first quarter of 2016. At the beginning of this year we felt that 2016 would produce a single digit year to year increase in new home closings. Although there were some positive signals from the area economists, there were still a lot of things that might limit new home sales in 2016, many of which we have discussed in our previous newsletters during the year.