New Homes Featured for Spring Buying Season
We are well into 2022, and it’s hard to believe that spring is already upon us. As the saying goes, April showers bring May flowers. And in residential construction, lately, it’s always “sales” season. For the homebuilding industry, April is recognized as New Home Month, a time to draw attention to the many benefits of newly built homes.
I am happy to report that we have had record sales across the valley and in all product types and at all price points. New homes are move-in ready and the latest floor plans are both water and energy efficient. It’s really no surprise that the demand for our award-winning communities is so high.
Interested homebuyers need look no further than online resources to get started on the home buying process. Visiting any Las Vegas home builder’s website is a great place to start, where virtual tours, floor plans, and other information can be viewed.
As we look forward to a subsiding pandemic, I remember how adaptive and innovative builders were as COVID restrictions nearly brought in-person home viewing to a complete halt. Although virtual tours are always available, visiting model homes in any new development or working with a real estate agent can help interested buyers narrow down their search.
Despite the many challenges we have faced over the past few years and the uncertainty of recent global geopolitical events, I do not expect demand to decline. In fact, I expect the market outlook to be quite similar to last month and to remain stable over the next few months.
The builders in this city have been around for decades and are some of the best in the country. I am confident that our builders are doing absolutely everything in their power to continue to provide much-needed housing for Southern Nevada’s growing population.
That being said, home prices in Las Vegas have been rising at one of the fastest rates in the country, and housing affordability is an issue that concerns me every day. Rising interest rates will offset some of the relief we have seen in the supply chain and a slight stabilization in bricks and mortar.
We will continue to do what we can as an industry working with our state and local authorities to find creative solutions to keep housing accessible to working families in Nevada.
It’s not an easy task, given that this long-standing industry has always been in constant evolution. Whether there is too much demand for what our labor and material shortages can create, as we are currently experiencing, or really any number of possible world events that can upset the balance of the ecosystem of an entire industry, the homebuilding industry in southern Nevada has endured.
We remain committed to improving the quality of life and housing needs of our community. In this quest, we celebrate the month of April and all who are living the American Dream of home ownership in a brand new home.
Nat Hodgson is CEO of the Southern Nevada Home Builders Association.