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.
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The luxury house in The Summit Club, a wealthy enclave in Summerlin, features a “secluded private apartment.”
The new landlord’s portfolio featured 120 properties across 27 states by the end of last year.
Buyers are pulling back in Southern Nevada and other metro areas amid sharply higher borrowing costs.
It was the latest high-priced deal in Las Vegas that did not produce transfer tax revenue that supports schools and low-income housing in Nevada.
“We could be facing years, not months, of fewer home sales,” the CEO of Redfin said.
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.
A recent deal at almost $6 million per-acre didn’t even come close to a sale up the street.
Las Vegas rental rates are climbing faster than the national average, and Nevada faces a steep shortage of affordable units.
Blue Heron held a ceremonial groundbreaking for Shoreline, an 83-lot housing tract at Lake Las Vegas in Henderson.