Southern Nevada prices were up 13.7 percent in July from a year earlier, compared to 6 percent nationally, according to the SP CoreLogic Case-Shillerindex released Tuesday.
Locally, rental prices for houses were up 5.7 percent in July from the same month last year, compared to 3 percent year-over-year nationally, housing tracker CoreLogic reported this week.
Southern Nevada Regional Housing Authority commissioners on Thursday voted to approve a three-year contract with their employees’ union.
The apartments can be small and the rents aren’t cheap, but dozens of tenants have moved to the new Fremont9 complex downtown, a member of the development team said Tuesday.
Las Vegas was still feeling the effects of the recession when it officially ended in June 2009.
Las Vegas has a higher rate of deeply-late borrowers than the country at large, but that’s tumbled as well, as Southern Nevada continues to shake off its problems from the the recession.
Las Vegas flippers on average sold houses in the second quarter for $54,600 above what they bought them for, producing a gross return on investment of 27.6 percent.
In both places, a rapid acceleration in the mid-2000s was followed by a devastating crash, and the current recovery is nowhere close to recouping all its losses.
Kingman isn’t roaring with growth today, and despite Las Vegas’ fast-rising home prices, it seems unlikely that Kingman will become a commuter town anytime soon.