Builders logged 434 net sales in July, the fourth consecutive monthly drop and the lowest since the onset of the pandemic.
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With land prices accelerating in Las Vegas, homebuilders are increasingly eyeing rural communities sprinkled around Southern Nevada for potential new projects.
U.S. homebuilders’ sales fell to its slowest pace in a year last month, and resales dropped for the fourth consecutive month. And it’s no different in Southern Nevada.
“This is the strongest seller’s market that I’ve ever seen, and I first got my license in the 1970s,” said Gary MacDonald, president of the Reno/Sparks Association of Realtors.
Some Las Vegas property management companies are making rent become overdue sooner and raising fees tied to evictions following new tenant protections.
California research firm RealtyTrac reported Wednesday that 31 percent of Nevadans with mortgages had loans that were “seriously” higher than their home values in the quarter that ended Sept. 30.
Union employees at the Southern Nevada Regional Housing Authority objected Thursday to the payment of nearly $1 million in legal fees, while the attorney blamed the union for driving his fees up.
The state will examine short sale practices in Nevada after concerns were raised by a Reno Gazette-Journal investigation published Sunday.