So-called distressed sales — purchases at foreclosure auctions and sales of foreclosed or underwater homes — account for just 3.3 percent of resales in the valley this year.
Housing
Your No. 1 source for Las Vegas housing and real estate news.
The market has slowed considerably this year, after a heated run in 2018 sparked affordability concerns. The cooling, at least in theory, could help jumpstart home sales.
Developer Sam Cherry is building his first residential complex since the boom days — a four-story apartment complex in downtown Las Vegas’ Arts District.
The median sales price of a newly built single-family house in Southern Nevada was around $389,450 in July, compared with $295,000 for a previously owned one, a gap of almost $94,450, according to data from Las Vegas-based Home Builders Research.
Foreclosures have by no means stopped, but amid an improved job market, they are a lot less common nowadays.
State lawmakers approved a bill in 2015 — a decade after Las Vegas’ wild building spree — that raised barriers to pursuing lawsuits alleging shoddyconstruction.
You can never rule out another housing crash,but just because the market has cooled off doesn’t necessarily mean it’s in the early stages of a collapse.
Despite the shifts, it’s not a buyer’s market yet, analysts say, though house hunters are in a better position now than they were a year ago.
A month after he resigned from his casino company, billionaire Steve Wynn bought a suburban mansion for $13 million — the most expensive home sale of 2018 in Las Vegas.