Owner-occupied houses decrease in Las Vegas
August 20, 2010 - 10:33 pm
The percentage of owner-occupied houses in the Las Vegas Valley is on the decline.
The percentage of owner-occupied houses in the Las Vegas Valley is on the decline.
The Las Vegas Planning Commission approved an apartment project despite significant neighborhood opposition.
Homebuilders say a number of factors are weighing heavily on the Las Vegas housing market, including high land costs, record-setting home prices and high mortgage rates.
A Redfin report has the valley third in the country for share of pending home sales that fell through in January.
Developers are building more than 600 new units in a section of Las Vegas now packed with shops and foot traffic.
Although Nevada’s minimum wage has risen to $12 an hour, it does not afford workers a median-priced apartment in the state.
The report also breaks down which cities in the state have the highest levels of owner-occupied homes.
The developer has filed plans to build a rental project next to the hotel-casino on Decatur Boulevard.
More than 5,000 homes are on the market in Southern Nevada, according to the latest report from Las Vegas Realtors.
The Stanley Cup winner bought the property in 2021 for $3.25 million.
The movie star planned to build a custom house but instead sold the vacant plot in The Summit Club.