In Southern Nevada, builders’ sales tally last month was the lowest of the year and marked the third consecutive month of sliding sales.
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Las Vegas house prices drop for first time in over two years as sales keep falling.
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.
Home prices are still logging huge year-over-year gains, making it all the more expensive to buy a place as people also face higher costs for gas and other daily goods.
The luxury house in The Summit Club, a wealthy enclave in Summerlin, features a “secluded private apartment.”
America’s casino capital “used to be an affordable alternative to California,” but rising prices and a hot market have made it “less attractive” for new buyers, report says.
Home sales have tumbled lately as the cost to buy a place grows.
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.
“We keep expecting prices to slow down at some point, but it’s not happening yet,” LVR President Brandon Roberts said in a news release.
We found five examples of houses for sale at or near the median sale price of single-family homes in Southern Nevada.
Cities like Las Vegas can become so popular because of their lower prices that the “affordability starts to vanish,” a Zillow economist said.
The eight-bedroom, nine-bathroom house features a Roman-style interior, an indoor fountain, custom chandeliers, a home theater, a security room and marble flooring.
After building and then selling two upscale apartment complexes near the Strip, developer Jonathan Fore is set to construct another one.
Southern Nevada house prices in December were up 25.5 percent from a year earlier, compared to 18.8 percent nationally.
Southern Nevada home prices were up 25.7 percent year over year in November, compared with an 18.8 percent gain nationally.