Page 9 - 2016 Las Vegas Residential Real Estate Report

TOP SELLING
MASTERPLANS
FIVE OF THE TOP FIFTY MASTERPLANS
Clark County, the
City of Las Vegas and the City of Henderson have several of the Nation’s Top Selling Master-Planned Communities.
SUMMERLIN 22,500 ACRES
6TH in the John Burns Real Estate Consulting Top 50 Master-Planned Communities of 2016
INSPIRADA 1,900 ACRES
8TH in the John Burns Real Estate Consulting Top 50 Master-Planned Communities of 2016
PROVIDENCE 1,200 ACRES
29TH in the John Burns Real Estate Consulting Top 50 Master-Planned Communities of 2016
CADENCE 2,200 ACRES
36TH in the John Burns Real Estate Consulting Top 50 Master-Planned Communities of 2016
MOUNTAIN’S EDGE 3,500 ACRES
38TH in the John Burns Real Estate Consulting Top 50 Master-Planned Communities of 2016
Source: John Burns Real Estate Consulting
NEW HOME CLOSINGS & PERMITS
Source: Clark County Assessor, Salestraq, U.S. Census Bureau
We are impressed with many of the new homes being delivered today, with fantastic layouts, nishes and amenities. One gap that we see in the market is within the attached segment. While some recognize demand exists for condominiums and townhomes, memories of construction defect lawsuits have poured cold water on many condominium plans, with developers instead focusing on apartments.
We believe that there is a growing need for higher density product, but of smart, modern designs. Attached projects located near major traf c
routes and retail are likely to see construction in
the near future. There are dual opportunities for both affordability plays and for lifestyle reasons as existing product in affordable ranges see higher prices and the lock-it-and-leave-it lifestyle becomes increasingly favored.
8. Howard Hughes Corporation 2015 Annual Report