Southern Nevada’s homebuilding market slowed again last month.

Builders landed 743 net sales — newly signed sales contracts minus cancellations — locally in October, down 24 percent from the same month last year, according to a report from Las Vegas-based Home Builders Research.

They also cut back on construction plans, pulling 633 building permits last month, down 28 percent from October 2024.

Overall, builders closed 738 home sales last month, down 31 percent from a year earlier.

After a buyer signs a sales contract with a builder, it can take several months before construction of the house is finished and the sale closes.

Las Vegas’ homebuilding market has been pumping the brakes this year . Mortgage rates have largely pushed lower in recent months, giving buyers some relief on bor

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