KB Home, Pulte and Lennar announce new Las Vegas valley communities with prices starting in the $300,000s

What happened

Several large homebuilders have announced new Las Vegas valley developments this fall, the Las Vegas Review-Journal reported. KB Home, Pulte and Lennar are among the builders moving ahead as they compete for buyers and wait for a housing market slowed by high mortgage rates to recover.

The Review-Journal noted that affordability has been a major issue, with costs rising since the pandemic and mortgage rates above 7 percent. Each of the three projects described lists starting prices in the $300,000s. For more on recent market conditions, see our coverage of pending home sales and rising rates.

KB Home's Sandstone in North Las Vegas

Size and prices

KB unveiled Sandstone, a master plan of nearly 300 acres within the Villages at Tule Springs, according to the Review-Journal. It includes four communities and more than 1,500 homes, along with more than 12 acres of planned on-site parks, a trail system and a new trailhead with access to the Tule Springs Fossil Beds National Monument.

Townhomes start in the low-$300,000s, single-family homes start in the mid-$300,000s, and the highest prices reach the mid-$400,000s. Models are open and the builder is taking reservations. KB said demand has been strong.

What the builder and city said

Jim McDade, president of KB Home's Las Vegas division, told the Review-Journal that Sandstone is the last of the villages at Tule Springs and the company's biggest investment since Inspirada in the early 2000s. He said KB acquired the land about two years ago and noted that Inspirada is sold out and Cadence is just about sold out.

North Las Vegas Mayor Pro Tem Scott Black said the homes "will help provide more attainable homeownership opportunities for years to come," according to the Review-Journal. He also said the project would create jobs and support local businesses.

Skye Summit in the northwest valley

KB also plans to move forward in 2027 with Skye Summit in the northwest valley, where it owns 299 lots over 38 acres, the newspaper reported. McDade said the company also has communities in Summerlin, North Las Vegas and Henderson.

Pulte's Aries in Henderson

Pulte unveiled Aries, a master plan spanning more than 1,100 acres along Lake Mead Boulevard in Henderson. The Review-Journal reported it is being developed as a multigenerational community with 24 neighborhoods offering single-family and multifamily homes at a variety of price points.

Aries offers 15 floor plans ranging from 1,285 square feet to 2,727 square feet, priced from the $300,000s to the $500,000s. Sales are expected to begin in 2027. Planned amenities include a clubhouse for Del Webb residents with a fitness center, pickleball courts and meeting space, plus Greenbow Park and three additional parks with features such as splash pads, sand volleyball courts and barbecue pits.

Lennar's The Foundry north of downtown

Lennar recently celebrated the groundbreaking of The Foundry, a gated community north of downtown Las Vegas, according to the Review-Journal. The 70-acre project on the former Grant Sawyer Building and Cashman Center sites is planned for more than 1,000 townhomes and single-family detached homes.

Vertical construction is expected to begin in October 2027, with pricing planned to start in the $300,000s. Lennar Las Vegas Division President Joy Broddle credited "a strong public-private partnership" for the project. Planned amenities include swimming pools, barbecue kitchens, walking paths, a dog park, a fitness course, play areas and amphitheater-style seating.

How builders are approaching rates

McDade said builders are not waiting for interest rates to come down and are instead pricing homes at the best value they can, the Review-Journal reported. He said the price of the home affects the payment the most.

He said there is no shortage of people who want to buy a new home, but buyers are being more cautious. He added that a lower rate is not a good deal if a buyer overpays for the house. Our earlier report on October home prices and slowing sales covers the resale side of the market.

What to watch next

• Pulte expects sales at the Aries master plan in Henderson to begin in 2027.
• KB Home plans to move forward with Skye Summit, 299 lots over 38 acres in the northwest valley, in 2027.
• Lennar expects vertical construction at The Foundry north of downtown to begin in October 2027.
• KB Home is taking reservations at Sandstone, where models are open.