Home sales have tumbled lately as the cost to buy a place grows.
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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.
Southern Nevada house prices in December were up 25.5 percent from a year earlier, compared to 18.8 percent nationally.
Builders logged 848 net sales in October, the lowest monthly tally since November 2020, though buyer traffic “has remained steady.”
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.