Las Vegas New Construction Condo, Townhouse Market Strong in June

Posted by The Little Group on Tuesday, July 24th, 2018 at 2:48pm.

Las Vegas New Construction Condos TownhomesIt’s been a good year for Las Vegas homebuilders and that trend continued last month according to new data released by Home Builders Research. In all, 944 new-home sales were recorded in June, which is up a strong 11.7 percent from June of 2017.

But what’s even more impressive is that through last month, 5,156 new homes have been sold in 2018, and that total represents a 19.4 percent jump overall compared to the first 6 months of last year.

Also noted in the report is that new condos and townhomes accounted for 11 percent of June’s new home sales volume, which is also up 3 percent compared to last June.

New condo and townhouse should continue to remain steady moving forward given builders are already planning more attached home projects. Despite June’s building permit dropping by 8.6 percent for the month, building permits for the year are still up 30 percent, which means many more condo and townhouse units are scheduled to be delivered sooner rather than later.

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