Las Vegas Homebuilders started in 2025 with fewer sales than a year ago, as a new report shows how many prospective buyers are exposed to hurdles when granting a place.
In January, the builders reduced 974 net sales new sales contracts in South Nevada, minus cancellations-in South Nevada, according to the Research for home construction companies in Las Vegas by 8 percent compared to the same month of the previous year.
The company also reported that the builders achieved 1,058 new home permits in January, which fell by 9.6 percent of a previous year, which indicates a retreat among the blueprints.
The builders also completed 777 sales in January, almost identical to the same month of last year. After a buyer has signed a sales contract with a building contractor, he can take a few months for the house to be built and the sale closes.
The average sales price of the closures in January was $ 523,925, an increase of 10.3 percent compared to the previous year.
Despite widespread discussions about lack of affordability, higher interest rates and other real challenges that the buyers look for, the monthly sales cancellation rates at the house tree market were at a “very normal level” of 10 to 15 percent, wrote Andrew Smith, Research President of Home Builder's Research, in the report.
For comparison: The cancellation rates were in the area of 30 to 40 percent at the end of 2022 after the interest rates had risen.
On the resort market in the South Nevada, sales of single -family houses in February were 6.1 percent compared to the previous year and the balance of houses for sale without offers by 50.6 percent higher.
At the same time, the average sales price of $ 485,000 approved the region of the region in January and rose by 5.4 percent compared to the previous year, reported Trade Association Las Vegas Realors.
The available inventory has risen in the United States, sales have dropped out, and the mortgage interest and real estate prices remain “persistent”, the real estate company Redfin recently reported.
Buyers and sellers are exposed to widespread economic and political uncertainty, said Redfin and found that tariffs, layoffs and changes to federal politics all contributed to an “air of instability”.
In January, 17.9 percent of the pending sales in the Las Vegas region fell to third place among the 50 largest U -Bahn areas in the country.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.
