The housing market in Henderson, Nevada, has witnessed a significant surge this year, according to a report from Las Vegas-based Home Builders Research. Henderson led the southern Nevada region with 28 percent of home sales, outperforming the southwest valley at 25 percent, the northwest area at 24 percent, and North Las Vegas at 14 percent.
This growth can be largely attributed to successful master planned communities like Cadence and Inspirada, which have guided the market’s trajectory over the past decade. However, the sustainability of this boom is becoming increasingly challenging, with Inspirada set to wind down its development by 2026 and Cadence expected to be completed in a few years.
Cheryl Gowan, the vice president of marketing for Landwell Co., the developer responsible for Cadence, reported 807 sales recorded this year up to July 27, with a total of 7,070 homes sold since its inception in December 2014. Approximately 2,500 homes remain to be sold in Cadence, and Gowan expressed optimism about achieving full occupancy in two to three years, contingent on broader market conditions.
Gowan highlighted the appeal of their homes, which encompass a range of types including single-family detached, townhomes, duplexes, and smaller units designed for first-time buyers. With starting prices in the mid-$300,000s and going up to nearly $800,000, Cadence caters to diverse buyer demographics.
Moreover, Gowan praised the City of Henderson as a supportive partner in their development initiatives, especially with ongoing redevelopment efforts around downtown Water Street and Boulder Highway that enhance the region’s attractiveness.
On the other hand, Jim McDade, president of the Las Vegas division for KB Home, shared updates on their flagship master plan, Inspirada. After two decades of development, Inspirada is nearing completion, with approximately 400 homes closing this year and only around 75 homes left to sell next year before wrapping up operations in 2026. The project will have resulted in about 8,000 homes built, with Tri Pointe Homes and Toll Brothers completing their respective parcels within Inspirada.
McDade expressed a bittersweet sentiment as Inspirada approaches the end of its development: “It’s very sad to be winding down Inspirada,” he remarked, emphasizing the master plan’s ability to recover from economic downturns.
In 2024, Cadence achieved its highest national ranking to date, placing at No. 3 in the U.S. for master plan sales, recording an impressive 1,386 sales, a remarkable 44 percent increase from 964 in 2023 when it was sixth. This was in contrast to Inspirada, which ranked No. 26 in 2024 with 543 sales, marking a 6 percent decline from the previous year’s 575 sales, highlighting the looming decline in demand as it approaches its development termination.
Markets fluctuated, with Cadence anticipated to sustain its growth momentum for a couple more years while Inspirada winds down its trajectory. The thriving master plan sales history in Henderson can be traced back to notable developments like Green Valley, which opened in 1978, and Anthem, which followed in 1998. Inspirada marked a resurgence post-Great Recession, paving the way for Cadence’s eventual rise.
Karl Pischke, a principal at RCLCO— a consulting firm that monitors master plans nationwide— commented on Henderson’s impressive economic journey, emphasizing its consistent presence in master plan sales rankings since RCLCO began tracking them in 1994.
“Henderson has ranked in the top 10 at least one community over the course of many years,” Pischke stated. “It’s been an impressive run. It’s been a big presence on our list.” Since RCLCO’s initiation of tracking, both Anthem and Green Valley made the top 10 rankings during their peak years, while Inspirada surged in popularity after entering the rankings in 2014. Cadence’s consistent presence in the top rankings since 2019 illustrates its continued success.
Overall, Henderson boasts a diverse array of master plans, setting it apart from larger metro areas such as Houston or Orlando. Among ongoing developments, Lake Las Vegas, a resort community in eastern Henderson, reported 357 sales in 2024, reflecting an 18.2 percent increase over 2023 and a substantial 68 percent rise compared to 2022 despite not breaking into the top 50 list.
Future growth opportunities in Henderson remain, but they are limited in comparison to previous developments like Cadence and Inspirada. New projects include Lakemoor, which is set for 3,000 units and has recently commenced development under Pulte Group, in addition to KB Home obtaining approval for 940 residential units north of the mall off Galleria Drive and Stephanie Street. The new Mosaic master plan in west Henderson will also contribute, with a minimum expectation of 1,040 residential units.
Despite the burgeoning housing market and opportunities, challenges persist concerning land availability for new developments, as noted by Nicole Bloom, division president for Richmond American Homes Nevada. She highlighted that Cadence has no more land available, and although Lake Las Vegas has a few parcels left, new viable master plan-sized sites are scarce.
“The challenge is why land is so expensive because we’re fairly limited right now,” Bloom stated. “Right now, Summerlin is really one of the only master plans that has any land.” With KB Home’s commitment to a new neighborhood named Meriden, set to open at the beginning of 2026, the ongoing real estate dynamics in Henderson will continue to unfold, shaping the area’s future housing landscape.
As the Henderson housing landscape evolves with these developments, the coming years promise to be pivotal in determining how the market navigates challenges and opportunities alike.
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