Las Vegas housing prices shot past $400,000 on the resale market for the first time last month, raising concerns that many locals might get priced out as home values keep setting new all-time highs.
red hot housing
After going up in flames early last year, the home was listed for sale July 22, and six different investors made offers.
The luxury home, up against the mountains on the far east side of the valley, is listed for a dollar under $4 million.
Home prices in the Las Vegas area were up 15.5 percent year-over-year in May, compared with a gain of 16.6 percent nationwide, a new report shows.
Homebuilders reported 935 net sales — newly signed sales contracts minus cancellations — in Southern Nevada in June, the third consecutive month-to-month drop and the lowest tally of the year.
The Calida Group has drawn up plans for two projects totaling around 450 rental homes in Henderson’s Cadence community.
Disruptions in the supply chain throughout the construction industry are hitting Las Vegas-area nonprofits dedicated to keeping housing affordable — because costs for building materials are far from it.
Some Clark County residents are seeing apartment rents climb as much as $300. With fewer units on the market compared with last year, some experts say rents are likely to continue to rise.
Sales in the luxury community have accelerated alongside Southern Nevada’s broader housing market.
Edward Homes aims to break ground soon on the 43-unit project and finish in 2023.
Builders booked 962 net sales in Summerlin through the first half of the year, up 50 percent from the same stretch in 2020.
Diverse housing is available for the new $395,000 median purchase price of a home in Southern Nevada.
Las Vegas-area home prices were 30 percent to 34 percent overvalued in the first quarter, highest among the 50 most-populated metro areas in the nation, according to Fitch Ratings.
San Diego developer Lansing Companies recently closed a land purchase for a community called Prado Ranch.
More than 3,500 single-family homes changed hands last month in Southern Nevada, according to a new report from trade association Las Vegas Realtors.
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