Las Vegas came in No. 2 to Phoenix for second straight month in the SP CoreLogic Case-Shiller index, which showed Southern Nevada prices were up 4.7 percent year-over-year in July, compared with 5.8 percent for Phoenix.
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The project is expected to begin around the end of this month at Archie Grant Park, a community for low-income seniors and the disabled.
The median sales price of a newly built single-family house in Southern Nevada was around $389,450 in July, compared with $295,000 for a previously owned one, a gap of almost $94,450, according to data from Las Vegas-based Home Builders Research.
UNLV has long been known as a commuter school, but this year, three big residential complexes have opened on or near the campus.