The housing market in Southern Nevada has always been a huge part of the economy. After all, owning a home is the American dream, and for most of us, it’s the biggest single investment we make. It is quite understandable many people get concerned when market conditions change, especially when this swing seems sudden. This […]
Market Reports
AGE-QUALIFIED NEIGHBORHOODS OFFERED IN SUMMERLIN
Summerlin, the award-winning master-planned community on the western edge of Las Vegas, offers three actively selling 55-plus neighborhoods. There are over 20 floor plans developed exclusively for active adults and empty nesters looking for a home that fits their needs. These communities offer easy-maintenance homes, lots of social events and activities, and opportunities to build […]
BUNGALOW SOLD FOR $14.5 MILLION LEADS NEW HOME LUXURY
Mark Wahlberg bought a $14.5 million home, and that sale leads the Las Vegas new-home luxury market, which has not shown any sign of slowing down despite rising mortgage rates. Las Vegas-based Home Builders Research reports there were 544 closings of new homes worth $1 million during 2022, a 26 percent increase over the 432 […]
SALES FOR NEWLY BUILT HOMES POSTED UP – FIRST TIME SINCE SUMMER
Las Vegas area builders have posted their best net sales numbers since June as they continue to slow price increases. according to Home Builders Research. The sales figures are still not what they were at this time in 2022 due to elevated mortgage rates. Home Builders Research President Andrew Smith stated that there has been […]
NEW HOME BUILDERS GROW MARKET SHARE OVER RESALE PURCHASES
Builders closed on 11,854 homes in 2022, only 178 fewer sales, or a 1.6 percent decline, from 2021. Home Builders have a growing market share as compared with resale homes, according to Home Builders Research. The 1,071 closings of new homes in December exceeded 30 percent market share in a market that saw 2,050 resale […]
HOUSING MARKET INDICATORS SHOW A STABLE MARKET
Las Vegas is coming into 2023 and seeing a housing market correction. Early last year, it was a seller’s market; buyers could make 20 home offers and not get one accepted, even when offering over the asking price. The market changed in mid-2022 after the Fed increased interest rates substantially, and the lower-priced market was […]
