Las Vegas homebuilders are selling fewer homes and notching slower price growth this year, similar to the resale market, a recent report shows.
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The purchase was Tower 16’s fifth in the Las Vegas area.
Las Vegas may be crammed with cookie-cutter stucco houses, but there are also plenty of mansions around the valley with wine cellars, game rooms, gyms, movie theaters, and other pricey amenities.
The developer said Tuesday it expects to break ground in November on Del Webb at Lake Las Vegas.
The Las Vegas housing market has been cooling down this year.
All are fetching fewer deals than last year amid a drop in sales throughout Southern Nevada.
It was such a frenzy that Brian Bair, CEO of Offerpad, figured the market went to “crazy town,” so he racked up more deals elsewhere.
A Chicago real estate firm has bought two Las Vegas Valley apartment complexes for more than $140 million combined, property records indicate.
