Sales ticked down as prices rose in Southern Nevada’s resale-home market in May. At the same time, distressed sales retreated.
Housing
The share of Clark County borrowers making low down payments jumped to 36 percent in the first quarter, up from 31 percent a year earlier.
Summerlin has announced a groundbreaking date for its first new village in more than a decade. The master-planned community on the Las Vegas Valley’s western rim will break ground on The Cliffs on June 10.
Southern Nevada’s middling housing market will make decent if unimpressive gains in the next 18 months. That was the word Friday from a panel of observers at the spring Las Vegas Housing Outlook, held by local analysis firm Home Builders Research.
A Wednesday report from California research firm RealtyTrac found that foreclosure activity across Nevada was up 39 percent year over year in April, extending to one in every 555 homes. That was good enough for No. 2 in the nation for default-related activity.
Local real estate research firm SalesTraq reported that the median price for an existing single-family home reached $212,568 in April, up 10.7 percent from April 2014 and a post-recession high.
A wave of resets on home equity lines of credit is set to wash over the Las Vegas Valley in coming years. For thousands of borrowers, it could be the crest that sinks them financially.
A Las Vegas Realtor is taking on Seattle-based Zillow when it comes to the information consumers use in determining the value of their home.
A trio of Wednesday reports showed steady prices and sales, plus a sustained investor presence and even potential overvaluation.
CARSON CITY — A joint money subcommittee Wednesday recommended shutting down Nevada’s Foreclosure Mediation Program, citing a recovering housing market and fewer participants than at the height of the recession when the program was established.
There weren’t a lot of takers Tuesday for federally owned lands on the auction block. Thirteen of 29 parcels the Bureau of Land Management put up for sale found buyers. The land purchases totaled 357.6 acres of the 597.6 acres available, while the bureau raised $19.2 million of the $29.7 million it set as the parcels’ total minimum price.
The local economy is growing, and builders need land. They’ll have their chance to snap up some bargains at a Bureau of Land Management auction on Tuesday, when the agency will take bids on nearly 600 acres of land across the Las Vegas Valley.
Nevada’s housing markets continued their slow slog toward normalcy in the first quarter, as distressed sales and investor activity declined, according to a Thursday report from California research firm RealtyTrac.
Nevada’s newest master plan has added a third company to its lineup of home builders. Skye Canyon in northwest Las Vegas said Tuesday that Century Communities will build 204 single-family homes with floor plans ranging from 1,700 to 3,600 square feet.
WASHINGTON — Home prices in 20 U.S. cities climbed at a faster pace than forecast in the year ended February while prices in Las Vegas decelerated, a closely watched survey released on Tuesday noted.
