Buoyed by shrunken borrowing costs, Las Vegas’ housing market has reached new heights multiple times during the pandemic.
Business Columns
Atlanta-based homebuilder Beazer Homes bought a tract of land during the bubble days in Indian Springs, a quiet, pint-sized community, and filed plans to build a subdivision.
In the early 1960s, with gamblers rolling the dice at the Dunes and the Stardust, Irwin Molasky made a different sort of wager: that people would move in droves to a stylish, resort-like community.
Southern Nevada homebuilders signed nearly 1,230 sales contracts in June, the most since February.
After Siegfried & Roy’s run ended on the Las Vegas Strip, they made millions in one of Southern Nevada’s other favorite pastimes: real estate.
Don’t expect a big burst of real estate action anytime soon.
People are still buying homes, and builders are still building, but the pipeline of sales is shrinking fast amid the turmoil.
With fears of the coronavirus upending daily life in Las Vegas and across the U.S., the homebuilding market, like other industries, faces a scary stretch ahead.
With builders putting up apartments, hotels, warehouses, a football stadium and more, Las Vegas is in the midst of another construction boom.
Southern Nevada’s apartment market heated up over the past several years with a flood of new projects and lucrative investor purchases.
It’s anyone’s guess what will happen with Las Vegas’ housing market in 2020.