Americans stepped up their purchases of new homes in July to the fastest pace in nearly nine years, the latest sign that low mortgage rates and a solid job market are helping support the residential real estate market.
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U.S. home prices kept climbing in March as the spring home buying season began, but higher costs have yet to thwart sales. Las Vegas had a 0.7 percent monthly gain and a 6 percent annual gain in the widely watched Case-Shiller index.
Sales in the West, which have been volatile in recent months, rose 18.8 percent after plunging 15.2 percent in March.
New-home construction rose in April, extending a pattern of gains and losses that signals the U.S. homebuilding industry is contributing little to economic growth.
U.S. homebuilders’ confidence held steady in May for the fourth month in a row, reflecting an overall optimistic outlook for the new-home market even as the pace of sales has slowed recently.
The Wolff Co. and 901 Fremont, LLC, an affiliate of Downtown Project, on Monday will introduce, a mixed-use, multifamily residential project at the intersection of Fremont and Ninth streets.
Annual local home-price gains slowed to more traditional levels as the Las Vegas Valley’s home values held steady in April.
The Nevada Supreme Court on Thursday ruled in a long-awaited dispute over homeowner association dues in super-priority lien cases, finding that Nevada law does not allow for the collection of costs and fees in addition to nine months of back-owed assessments.
More than 5,500 Nevada families have been able to purchase a home through a state program that provides grants for down payments, the state Housing Division said Thursday.
Home prices in 20 U.S. cities rose less than forecast in February from a year earlier, which bodes well for prospective buyers.