Redfin Corp., a brokerage with operations in Southern Nevada, is laying off 862 people and closing its home-flipping business.
Housing
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The 206-unit complex in the southwest valley is not finished yet but is expected to be move-in ready in late August.
Spanning more than half the size of Summerlin, a sprawling ranch property in Northern Nevada has hit the market for $100 million.
Las Vegas rental rates are climbing faster than the national average, and Nevada faces a steep shortage of affordable units.
With the grass torn out and heavy construction equipment on-site, Las Vegas’ former Royal Links golf course is on its way to becoming a sprawling housing tract.
Howard Hughes Corp. is developing an office building next to Las Vegas Ballpark and the second phase of a luxury apartment complex.
Las Vegas’ housing market is in overdrive. Homes are selling rapidly, prices are setting record highs and many buyers are paying cash.
The 63-unit Share Downtown, at the corner of Casino Center Boulevard and Colorado Avenue, is scheduled to open later this month, with the first 16 units now available for lease, management announced Wednesday.
In Southern Nevada, homeowners put 3,605 single-family houses up for sale last month, down 18 percent from March 2019, according to trade association Las Vegas Realtors, or LVR, which pulls data from its listing service.
It was the highest number of January closings since 2008, when it was 881.
It’s anyone’s guess what will happen with Las Vegas’ housing market in 2020.
TruAmerica Multifamily announced Monday that it acquired Allanza at the Lakes with an undisclosed partner for $152 million.
Las Vegas’ apartment market has accelerated in recent years. Developers are packing the suburbs with projects, landlords are on a buying spree , and tenants are filling buildings. Rents are also rising at one of the fastest rates in the country, stretching affordability for some.
Zillow executives may say they’re not in the house-flipping business, but based on its first batch of deals in Las Vegas, that’s exactly what the company is doing: buying and then quickly selling homes.
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