Buyers paid a median price of $444,677 for newly built homes in Southern Nevada in November, up 11.5 percent from a year earlier.
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The turf ban would apply to all new development, except for schools, parks and cemeteries. Existing regulations prohibit grass in front yards and limit it to 50 percent of a backyard’s area.
Home construction is still facing costly and delayed materials from supply chain disruptions while the Southern Nevada housing market remains hot, industry members say.
The Southern Nevada Water Authority has aggressively pursued the removal of grass in Southern Nevada for decades. It wants to make turf regulations even more restrictive.
Attorneys for Hsieh’s family filed court papers Monday showing the sprawling home is set to trade hands.
The 72-year-old rock star initially listed his Henderson mountain-side mansion in October, just five months after he bought it. Now he’s lowered the price dramatically.
The median sales price of previously owned single-family homes was $420,000 in November, up $10,000 from the prior month.
Starlight U.S. Residential Fund has acquired Lyric, a 376-unit apartment complex in the south valley.
Southern California real estate firms Lyon Living and LandSpire Group recently started construction on a 294-unit rental complex at The Gramercy in the southwest valley.
Builders logged 848 net sales in October, the lowest monthly tally since November 2020, though buyer traffic “has remained steady.”