Work crews had torn down most of Fiesta Rancho’s hotel tower, on the north side of the property, as of Thursday morning.
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The housing market started 2023 on a slow note, and though mortgage rates have been volatile lately, buyers have been returning.
A hospital chain acquired a sprawling land tract on Las Vegas Boulevard, raising the prospects of a new medical campus.
A sharp jump in mortgage rates has sparked big drops in home sales, widespread price cuts and huge increases in available inventory.
The locals-focused casino chain purchased nearly 67 acres in North Las Vegas after landing approvals for a 600-room hotel project.
Hotel giant Hilton announced plans for the luxury Waldorf Astoria Lake Tahoe, to be located on the Nevada side of the alpine lake.
Las Vegas house prices dropped to their lowest level of the year last month as higher mortgage rates throws cold water on the market.
Toll Brothers, which has projects around the Las Vegas Valley, opened two neighborhoods in the Desert Color master-planned community just north of the Arizona border.
The median sales price of previously owned single-family homes was $450,000 last month, unchanged from August.
Sales have been tumbling in Las Vegas and around the U.S., and if borrowing costs keep falling, it could spark more buying activity.
Cable Center Shops, Hawaiian Marketplace and a 1960s-era Travelodge motel have closed their doors.
Las Vegas house prices drop for first time in over two years as sales keep falling.
Amid the typically busy spring buying season, around 3,000 previously owned single-family homes traded hands last month, down 8 percent from March.
“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.
The deal’s acreage and dollar amount were on par with, if not higher than, recent full-year land sales totals in the community.
Summerlin and three other Southern Nevada master-planned communities ranked among the 25 top-selling areas in the nation for homebuilders.
Last year’s sales tally topped the previous all-time high by nearly 2,000 transactions, and the median price hit $425,000 in December, also setting a record.
Crews are working on the foundation and a crane is in the air at Project63, a four-story retail development at the multi-tower CityCenter complex.
The company owns six undeveloped sites and likes the idea of “essentially doubling the size of our current operating platform here in Las Vegas.”
Construction is underway on Wood Partners’ 228-unit project off Southern Highlands and St. Rose parkways, near the M Resort.
The median sales price of previously owned single-family homes was a record $406,500 in September, up 0.4 percent from August and 20.5 percent from September of last year.