The new-home construction market in Las Vegas posted its strongest third quarter since 2007 and shows no signs of slowing down as 2019 comes to a close with a chance to equal last year after a slow start.
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California-based American Homes 4 Rent, which has already acquired, renovated and leased single-family homes in Las Vegas, has made its first move to what it has also done in some other markets — build single-family homes to rent like it has in 14 other markets.
The proximity to outdoor recreation areas has helped fuel home buying in the northwest valley that in turn has created a built-in audience that’s spurring expansion and improvements in the resort industry in the nearby mountains.
There’s a significant and sudden shift in the landscape of the Southern Nevada new-home market that shows no signs of slowing over the next several years.
A year after it opened, the Clubhouse at Reverence in Summerlin took home two Silver Nugget awards.
Retirees account for about 26 percent of the area’s approximately 2 million residents, meaning more than 600,000 people in Vegas are over the age of 55.
Aptly named Shadow Point, Toll Brothers’ new community is nestled under the shadow of the Spring Mountains. Using natural materials and layering textures, the Eclipse Elite model home’s kitchen reflects the beauty of the surrounding landscape.
Richard Plaster has seen Las Vegas grow up as a city over the last 45 years, and his legacy is helping make that happen.
Retirees account for about 26 percent of the area’s approximately 2 million residents, meaning more than 600,000 people in Vegas are over the age of 55.
New home sales in the four leading master-planned communities in Las Vegas are down during the first six months of 2019, but builders and analysts said they wouldn’t be surprised if they finish the year even or ahead of 2018.
New home sales in the four leading master-planned communities in Las Vegas are down during the first six months of 2019, but builders and analysts said they wouldn’t be surprised if they finish the year even or ahead of 2018.
Early this year, California-based architect sparked ire and even some agreement among Las Vegas home designers and builders when he criticized the residential architectural landscape of Southern Nevada.
Summerlin and Inspirada led the way in master plan net sales during the first quarter of 2019, according to data released by Home Builders Research. Net sales for the quarter overall were down 19 percent compared to a robust 2018 but similar to 2017.
Home Builders Research reported that the 810 closings in February were 27 percent higher than February 2018. For the first two months of the year, the 1,421 closings are 75 more or 5.6 percent higher than a year ago. In releasing his numbers, Home Builders Research President Andrew Smith said the final two months of 2018 made the short term outlook, for the market “a bit worrisome” but sales figures “have rebounded nicely” since the start of 2019.
“With the first two months of 2019 nearly in the books, the new home segment of the housing market in Southern Nevada is performing well enough to temper some of the growing concerns many felt about the future in the fourth quarter of 2018,” said Andrew Smith, president of Home Builders Research.
