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.
Las Vegas rental rates are climbing faster than the national average, and Nevada faces a steep shortage of affordable units.
Despite Las Vegas’ rapid price gains, several other cities logged even higher growth.
Home sales have tumbled lately as the cost to buy a place grows.
One of the largest independent residential realty brokerages in the U.S. is bringing its business to Las Vegas as part of its western regional expansion.