The October NAHB/Wells Fargo Housing Market Index found:
43% of surveyed builders cut prices, the highest share of the 2020–2026 period
The average cut was 6%
65% are using sales incentives
Builder confidence fell 3 points to 29
What this does NOT mean: that 43% of new homes are discounted, that home prices nationally dropped 6%, or that every builder will negotiate. This is a national builder survey, not a Las Vegas price report.
So why does it matter locally? Because new construction and resale homes often compete for the same buyers. If you’re only looking at resale, you may be missing part of the picture.
A builder’s offer doesn’t have to make the home the cheapest one on the block to be worth a look. It might help with the cash needed at closing, or with finding a home that fits your move-in timeline.
If you’re a seller, that’s worth knowing before you write off new construction as “a different market.”
Curious how new builds are affecting your neighborhood in Las Vegas or Henderson? Message me and I’ll break it down.
If you’re looking for a hard-working real estate agent, you just found him.
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