WASHINGTON — U.S home construction rose moderately in March as builders resumed work at the end of a frigid winter. But applications for building permits slid, clouding the outlook for future construction.
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A local new-home project will get a shot in the arm from a California investor.
It’s hard to single out the most noteworthy part of the recent sale of a local CVS drugstore. Maybe it’s the deal’s price tag, certainly the most expensive CVS ever sold locally. Perhaps it’s the shop’s location on the Strip just south of Sahara Avenue, which positions it as a harbinger of development to come.
Nearly half of the names on a list of Southern Nevada’s most active builders during the 2006 housing bubble are gone from today’s roster — whether through bankruptcy, acquisition or self-imposed exile. Times were brutal from 2008 to 2011, and the sector looks very different in recovery.
California research firm RealtyTrac said Wednesday that the Silver State remained one of the nation’s top states for foreclosures, even as default activity fell here.
The median price of an existing single-family home in the Las Vegas Valley jumped to $195,000 in March, up 21.1 percent from $161,000 in March 2013, according to a Monday report from the Greater Las Vegas Association of Realtors.
The Underground House at 3970 Spencer St., one of the valley’s most unusual houses, went on the market about a year ago. The house was initially listed at $1.7 million and on March 28 it sold for the bargain basement price of $1.15 million.
KGA Architecture’s large-scale projects have helped shape the Southern Nevada landscape – from hotel-casinos to hospitals, and high schools to police stations. Ed Kittrell founded the firm 39 years ago with George Garlock.
After nearly a decade of incredible highs and devastating lows, it was time for a party. With its Silver Nugget Awards on March 29, the Southern Nevada Home Builders Association threw its first big annual awards party since 2004, and nearly 300 people came to celebrate.
U.S. home prices rose in February from a year earlier at a solid pace. The states with the biggest price gains in the past year were: California, where prices rose 19.8 percent, followed by Nevada, 18.5 percent, and Georgia, 14.2 percent. No states posted a drop in home prices.