Las Vegas’ housing market is “on fire” despite the coronavirus pandemic’s devastating effect on the economy, as sales totals surged and prices hit another all-time high last month. (Michael Quine/Las Vegas Review-Journal)
Las Vegas house prices hit an all-time high in June and sales totals surged from the prior month, a new report says, indicating the market rebounded as locals went back to work.
The National Association of Home Builders/Wells Fargo housing market index dropped 58 percent from March to a score of 30 this month, the largest monthly change in the history of the index.
House-flipping companies like Zillow, Offerpad and Opendoor have temporarily stopped buying homes in Las Vegas because of the spread of coronavirus.
In early 2019 Las Vegas home prices were rising at the fastest rate in the nation. But Las Vegas ended 2019 with some of the slowest-rising prices in the nation. In December, Southern Nevada prices were up 2.6% year-over-year in December, compared to 3.8% nationwide, according to the S&P CoreLogic Case-Shiller index . Phoenix saw a a 6.5% price gain. Charlotte, North Carolina, saw a 5.3% price gain. Tampa, Florida saw a 5.2% price gain. Prices rose just 1% in Chicago and New York. (Las Vegas Review-Journal)
Del Webb, developer of 55-and-over communities, is holding a ceremonial groundbreaking Wednesday for a 10,000-square-foot clubhouse in a new housing tract in Henderson. The community, Del Webb Lake Las Vegas, will span 125 acres and feature 460 homes priced from the low-$400,000-range.
Bernie Sanders sits down with the Las Vegas Review-Journal to talk about his new affordable housing plan he unveiled at Plumbers & Pipefitters.
Las Vegas Review-Journal business reporter Eli Segall sits down with Aaron Drawhorn to discuss four key trends in the Las Vegas housing market. (Las Vegas Review-Journal)
Ben Carson discusses housing with the Review-Journal editorial board on Thursday. (Audio only)
Ben Carson discusses housing with the Review-Journal editorial board on Thursday. (Audio only)
Boulder City, population 15,970, limits its growth by putting a cap on residential construction. But Las Vegas builder Wayne Laska sees little competition and has launched a 127-home project there. His development, Boulder Hills Estates, will span about 30 acres and is the biggest new housing tract in the city in decades. Home prices start around $410,000. By comparison, the median sales price of newly built homes in the Las Vegas Valley last year was about $383,700.
Southern Nevada home prices were up 12 percent year-over-year in November.
Las Vegas house prices are rising Southern Nevada prices were up 12.8 percent year-over-year in October. Nationally, home prices were up 5.5 percent year-over-year . Buyers are pulling back. Around 7,000 Las Vegas houses were on the market without offers at the end of November, up 54 percent year-over-year. Las Vegas home prices have been rising at one of the fastest rates in the country
Toll Brothers purchased of 128 acres of property near Mesa Park Drive and Town Center Drive will be used for a housing development. (Michael Quine/Las Vegas Review-Journal)
Unlike most house flippers, the company aims to make money from transaction costs rather than from selling homes for more than their purchase price.
Developer Chris Beavor holds a ceremonial groundbreaking ceremony for a mixed-use project next to Palms at 3883 Flamingo Road in Las Vegas. (Bizuayehu Tesfaye/Las Vegas Review-Journal)
A Salt Lake City firm has bought several Las Vegas apartment complexes. All told, Bridge Investment Group acquired eight complexes. The sale is valued at nearly $130 million deal. The information came from Charlotte Morse, director of investor relations and marketing for Bridge. (Las Vegas Review-Journal)
Roma and Alan Haynes have been married for almost 40 years and bought seven homes in Las Vegas. A look at these serial buyers and why they made their most recent purchase.