New Construction Update: The Builder Scoreboard & the Southwest's Final Lots

Where the New-Home Market Stands This Week

Let me set the state of play before the scoreboard. Home Builders Research's September new-home report was still pending as of this writing, so August remains the newest published month across Southern Nevada: 502 net new-home sales, down 31% from a year earlier, at a record median new-build price of $552,990, up 3.1% year over year. Builders are still answering that slowdown with the sharpest incentives of the cycle, rate buydowns and closing-cost help, because they need to move the lots they already have in the ground.

Meanwhile the resale side is holding near a $470,000 valley median with total active inventory above 10,000 homes for the first time in more than a decade, roughly five months of supply. I break down the full resale picture and rates in last week's market update, so this week stays on the construction side of the ledger, starting with the names doing the building.

The Builder Scoreboard: Who Is Leading in 2026

For 2026 to date, Home Builders Research's rankings tell the story of who is betting on this valley. Lennar holds the No. 1 spot with 447 net sales in Q1, down 17% year over year, and D.R. Horton is right behind in second. Pulte Group sits third with 311 sales, down 16%, and KB Home is fourth with 274, down 26%. Those are valley-wide numbers, and the headline is not the decline, it is the positioning: the biggest builders in the market are all still competing hard for the same limited lot supply in the Southwest.

Translate that to this corridor and the picture gets even clearer. The Enterprise and Southwest area is led by Lennar with roughly 50 communities priced from about $277,000 to $1.28 million, KB Home with about 28 communities from around $317,000 to $883,000, Pulte and Del Webb with about 22 communities spanning $307,000 to $2.40 million, and D.R. Horton with about 17 communities from roughly $308,000 to $822,000. I keep every active builder and community tracked on my new construction page so you can see the whole line-up at once.

Two things worth flagging for buyers. First, when the volume players are all pointing at one corridor, that is the market voting with real money about where the demand has settled. Second, the price spread shows the Southwest is not one market, it is several: entry-level townhomes at the bottom, move-up families in the middle, and gated luxury at the top. The builder scoreboard matters less than matching the right builder tier to your price point, and that is where a local agent earns their keep.

Mountain's Edge: The Last 60 to 90 Lots

Mountain's Edge, the roughly 3,500-acre master plan with more than 12,000 single-family homes, is officially in its closing-out chapter. The active inventory sits at roughly 60 to 90 new lots across the remaining infill villages, priced from about $525,000 to $895,000, and Toll Brothers is among the builders still delivering larger floor plans there. Once those last homes close, the community that defined Southwest living for two decades turns fully resale.

For buyers this is still a gift. You get the finished master plan, the parks, the trails, the schools that are already done and proven, with a closing-out price sheet, and closing-out is exactly where the incentives live. The full village-by-village picture, including the new regional park investment, is in my Mountain's Edge spotlight.

Southern Highlands: Custom & Luxury Infill

Southern Highlands remains the luxury anchor, with roughly 40 to 60 active new lots, and the interesting shift is how much of it is custom now. Blue Heron is building Stonewater, its gated two-story collection, and custom estates in Olympia Ridge, Beazer is active at Granite Point, and Toll Brothers' larger offerings run past $1 million. In the ZIP data it shows up too: 89141, the Southern Highlands and Enterprise side, leads the Southwest's new-build listing count at about 48 homes around a $559,950 median.

For luxury buyers the advice has not changed: the interest lists are the product. The best lots in a small luxury release go to the people who registered and toured early, not to whoever calls the week the model opens. The school picture for the community's newer sections is all on my schools page, and the full community breakdown is in the Southern Highlands spotlight.

Rhodes Ranch: New Neighbors Just Outside the Gates

Since I live here I will say it plainly: Rhodes Ranch itself is essentially built out, but the corridor around it has become one of the busiest building pockets in the Southwest. The active names right now are Toll Brothers, Richmond American's Galway Grove, Lennar's Madori Vistas, and Century Communities' Southwind, while the older Estates at Rhodes Ranch is sold out. That mix means you can buy a resale inside the guard gates or a brand-new home minutes from the country club, and both feed the same golf-course amenities.

The practical benefit is choice. New construction buyers get the builder warranties and this fall's incentives, resale buyers get the mature landscaping and the established community calendar, and the two compete for the same buyer pool, which helps everyone's negotiating position. If you want the block-by-block guide to living here, the Rhodes Ranch deep dive covers it all, and my weekly Rhodes Ranch report tracks the numbers for the 89148 and 89113 corridor.

Spanish Trail & Nevada Trails: Two Ways a Community Finishes

The two communities next door show how differently established neighborhoods can play out. Spanish Trail, the guard-gated country club with its 27-hole course, has no production builder working inside the gates, so the new-construction route there is the custom teardown-and-rebuild, a long, deeply personal project and not for everyone. If you want the established golf life without the build, Spanish Trail's resale is the product, and the Spanish Trail spotlight walks through it.

Nevada Trails is the opposite story: it still has 2026-built new homes coming online, including freshly delivered product near Kinleigh Poulson Street in 89113, an area where Richmond American has been active. It is quieter than the headline master plans, but that is exactly its appeal, finished parks and trails, mature trees, and just enough new product to give buyers a fresh-home option without the construction dust. The Nevada Trails spotlight has the details.

Durango's Expansion: Past the Halfway Mark

The most visible construction in the corridor is not a home at all. Durango Casino & Resort's $385 million North Expansion passed its halfway mark in September when crews installed the 180,000-pound steel truss, and work has only picked up since. The roughly 275,000-square-foot podium will add about 400 slot machines, a 36-lane bowling alley, luxury movie theaters, new restaurant and food-hall concepts, and Moonshine Flats, the two-story country music venue, with completion targeted for late 2027. The casino and current restaurants stay open the whole time, so the resort is a construction site and a party at once.

There is also a reshuffle inside the resort: three Eat Your Heart Out tenants closed in early October to make room for the expansion work, and the reshaped food hall will be part of the bigger resort when it lands. Every buyer I show near Durango asks about the expansion before they ask about the price. That is what a landmark does for a neighborhood, and this one is only halfway done. I cover what the expansion means every week on the Events & Venues page.

The Bend, UnCommons & the Investment Keep Landing

Private capital is not leaving the Southwest, it is piling in next door to the rooftops. The Bend, the Dapper Companies' dining and retail complex at Sunset and Durango, runs 17 open tenants, from Marufuku Ramen to Mothership Coffee and Evolve Brewing, with the luxury Galaxy Theatre and Electric Pickle's nine-court pickleball complex still to come as its Phase 2 anchors. When an investor lists the complex's income-producing retail buildings at $40.6 million, that is not weakness, it is confidence that the rooftops around it keep growing.

UnCommons, the 40-acre, roughly $850 million mixed-use campus by Matter Real Estate Group directly across from the casino, refinanced in March with a $310 million loan from TPG and then unveiled its final building in May, a fifth three-story structure with about 39,000 square feet of office and 20,000 square feet of retail on the campus's west side. It is the first Nevada project built to WELL certification standards, and its tenant list, CBRE, DraftKings, Blue Bottle Coffee, Salt & Straw, and Urth Caffe among them, says everything about the demographics this corner of the valley now attracts. The rental side, Vestra at UnCommons with 352 units from roughly $1,760 a month, is leasing, and I hold referral rates on those leases for clients.

Roads & Investment: The Infrastructure Keeps Catching Up

The Southwest's growth spine is Blue Diamond Road and the CC-215 Beltway, and the infrastructure is finally keeping pace with the rooftops. The lanes added between I-15 and Jones are done, and the next big piece, widening the 215 between Charleston Boulevard and Far Hills Avenue with an added lane in each direction plus a new braided ramp from northbound 215 to Charleston, is the biggest single road project affecting Southwest commuters right now, running on about an 18-month schedule. It pairs with the new ramp work at Sunset and Durango and the Warm Springs road rebuild to make the whole southern half of the valley more connected than it was last year.

For anyone weighing a move here, this is the part that feels personal to me. The neighborhoods were built fast, and for a long time the roads lagged behind. Now the ramps, the widening, the retail, and the office space are all arriving at once, and the drive-time payback is real. What the new ramps mean for your specific commute is broken down on my commuting guide, and every past update lives on the Market Reports hub.

What I Am Telling Clients This Week

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