Nevada HAND receives 2,000 calls a day from people seeking affordable housing and only has a “handful” of vacancies in its 4,700-unit portfolio, the president and CEO said.
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With land prices accelerating in Las Vegas, homebuilders are increasingly eyeing rural communities sprinkled around Southern Nevada for potential new projects.
Housing markets are always prone to ups and downs, especially in Las Vegas, and no boom lasts forever.
As it has become increasingly difficult to purchase a home in the Las Vegas area, industry sources say more buyers than usual in America’s casino capital are turning to Pahrump.
Demand is fierce and inventory is minimal in the Southern Nevada rental home market, where a report shows prices have jumped 11.3 percent year over year in April.
Whether it’s lake views, the absence of gambling within city limits or its small-town appeal, Boulder City has captured the attention of homebuyers.
Kristen Routh-Silberman listed a sleek Henderson mansion for $12.5 million early this month, and within days, she said, she was negotiating two offers.
The Las Vegas housing market has become fiercely competitive in recent months, and the pressure to find a home is even more challenging for first-time buyers.
Homeowners are benefiting from Southern Nevada’s heated housing market, often selling for above the asking price and sometimes fetching substantially more than they paid just a few years ago.