Las Vegas homebuilders landed a big jump in month-to-month sales volume in July, but business overall is still far below year-ago levels, according to a new report.
Builders logged 735 net home sales — newly signed sales contracts minus cancellations — in Southern Nevada last month. That was up 28 percent from June but down 7 percent from July 2025, according to Las Vegas-based Home Builders Research.
Last month, builders also pulled 620 new-home permits, up about 1.5 percent from June but down 23 percent year-over-year.
The bulk of the market comprises single-family homes, and after a buyer signs a sales contract with a builder, it can take several months before construction of the house is finished and the sale closes.
Builders closed 706 home sales locally in July, down 12 percent from the same month last year, Home Builders Research reported.
All told, would-be buyers have shied away from home construction sites across the country, as elevated borrowing costs and high home prices have made it difficult for many people to afford a purchase.
Locally, buyers paid a median price of $535,114 last month for all newly built homes, up 2.9 percent year-over-year.
For single-family houses, the median closing price last month was $581,930, up 2.1 percent from a year earlier, Home Builders Research found.
Across the country, housing affordability has declined, and builders’ confidence is low amid rising construction costs and other financial pressure, the National Association of Home Builders reported this month.
Nationally, in June, the pace of sales of new houses ticked up 1.6 percent month-to-month but was down 5.6 percent from a year earlier, federal officials reported.
In Southern Nevada, builders have sold fewer homes throughout the year compared to 2025 levels and cut back on construction plans.
Builders closed 4,750 home sales this year through July, down 20 percent from the same seven-month stretch last year, and pulled 4,776 permits, down 25 percent, Home Builders Research reported.
The pullback follows a sharp drop in activity last year, as well.
Collectively, builders’ tally of closed sales in Southern Nevada dropped 20 percent in 2025 from the prior year, and the number of new-home permits they pulled last year also fell 20 percent, Home Builders Research found.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.
