Lennar retained the top spot among builders in 2025, a year that saw all companies except for Toll Brothers record a decrease. But signs are hopeful for an upturn in 2026 as builders ramped up their permits to close out the year.
Lennar had 1,796 sales, down 16.2 percent from 2,142 in 2024. Its median price was $518,997, a 5.6 percent increase from $491,441 a year ago, according to Las Vegas-based Home Builders Research.
D.R. Horton had 1,663 sales, down 13.3 percent from 1,917 in 2024. The median price was $412,790, down from $413,990, or 0.3 percent.
The Pulte Group was third with 1,391 sales, down from 1,530, or 9.1 percent. The median price was $625,000, up 9.1 percent from $572,747.
KB Home was next with 1,337, down from 1,615, or 17.2 percent. The median price was $538,509, up 5.9 percent from $508,315.
Toll Brothers had 576 sales, up from 566, or 1.8 percent. The median price was $780,538, up from $734,221, or 1.8 percent.
Century Communities recorded 475 sales, down from 678, or a decline of 29.9 percent. The median price was $520,000 , up from $506,190, or 2.7 percent.
Richmond American was 457, down 53.7 percent from 987 in 2024. The median price was $559,000, up from $516,000, or 8.3 percent.
Beazer Homes had 414 sales, down 15.2 percent from 488 in 2024. The median price was $437,245, down from $449,995, or 2.8 percent.
Taylor Morrison had 338 sales, down 5.9 percent from 359 in 2024. The median price was $599,900, up 20 percent from $500,000 in 2024.
Touchstone Living had 337 sales, down 21.6 percent. The median price was $368,990, up 1 percent from $365,490.
Las Vegas builders closed on 9,990 homes in 2025, a decline of 2,449, or 20 percent. There were 7,223 closings of single-family homes, a 21 percent decline. There were 2,657 closings of attached homes, a decline of 18 percent.
New homes made up 27 percent of the market share of homes sold in 2025.
Despite the decline in 2025, builders are gearing up for more sales in 2026. Builders took out 995 permits in December, a 36 percent increase over December 2024.
“This was a 92 percent increase from November,” Home Builders Research President Andrew Smith said. “It is a positive sign moving into 2026 after the lowest annual total in a decade.”
There were 9,734 permits pulled in 2025, a 20 percent decline and the lowest total since there were 8,702 in 2016, Home Builders Research reported.
The median price of single-family homes sold in December was $570,790, a decline of 0.6 percent. The median price of attached homes sold in December was $384,995, a decline of 0.1 percent.
According to Clark County data, 17 percent of new home closings in December were cash transactions. Of those that were financed, the average loan amount was $512,048. The largest loan for a new home closing in December was $2.944 million by Xpert Home Lending for a custom home in the southwest valley, according to Home Builders Research.
Smith said vacant land purchases by homebuilders yielded nine closings in December, adding just over 90 acres to their portfolios. He said these were highlighted by the purchase of 39 acres by KB Home, the first in the upcoming Skye Summit master plan in the northwest.
Toll Brothers acquired 20.5 acres in Boulder City, adjacent to the Boulder Creek Golf Club. American Homes 4 Rent and D.R. Horton also closed on vacant land parcels sized between 3 and 5 acres each.
