weather icon Clear

National vacancy rates rise; Vegas drops

Las Vegas rental vacancy rates are higher than national rates, but the national rate grew in the past quarter while it declined in Southern Nevada.

According to U.S. Department of Commerce’s Census Bureau data, the national vacancy rate for the quarter ending in September was 7.3 percent, up from 6.8 percent the previous quarter and from the 7.1 percent reported in March. The high was 11.1 percent in September, 2009 — as the nation was beginning to pull out of recessions.

In Las Vegas, the vacancy rate dropped .1 percent point to 7.9 percent, according to the Lied Institute for Real Estate Studies at UNLV, and it’s down 1.3 percentage points year over year. Accordingly, the cost of renting an apartment or house has been growing. (See rental rates rising sharply in Las Vegas Valley and Apartment Market Trends in 3rd Quarter 2015.

So people looking to rent an apartment in Las Vegas may find slimmer pickings and higher costs.

Data is curated by FindTheHome.comand sourced from the U.S. Census Bureau & U.S. Department of Housing and Urban Development.

Don't miss the big stories. Like us on Facebook.
Top 10 penthouses for mid-2019

High-rise sales are down in 2019 as buyers look to the home market, but a unit at the Waldorf Astoria fetched the highest price in 2½ years.

Ascaya hosts Robb Report’s Dream Machines

Ascaya, the hillside development in Henderson, turned into a closed course to demonstrate the latest luxury sports utility vehicles that will be showcased in an upcoming issue of a national luxury lifestyle magazine.

Northwest resorts cater to homeowners with outdoor lifestyle

The proximity to outdoor recreation areas has helped fuel home buying in the northwest valley that in turn has created a built-in audience that’s spurring expansion and improvements in the resort industry in the nearby mountains.

Pardee to open Midnight Ridge in Henderson

Midnight Ridge, an exclusive new Pardee Homes community in Henderson, will debut with a grand opening Sept. 21. The upscale collection of homes is nestled in a private canyon surrounded by the picturesque foothills and scenic desert.

KB Homes opens Bristle Vale in Summerlin

Bristle Vale by KB Home, the newest neighborhood in the village of Stonebridge in Summerlin, is now open for sales. This new gated neighborhood, just minutes from Red Rock Canyon National Conservation Area, features 11 floor plans that are new to the community.

Beazer to host grand opening for Rancho Crossing

Beazer Homes will host the grand opening of Rancho Crossing, its newest Las Vegas community Sept. 21 from 10 a.m. to 6 p.m. During the grand opening, guests are invited to tour Rancho Crossing’s model park, showcasing three popular model homes — the Sage, Mesquite and Valencia plans.

Expert gives tips on finding the right home loan

Beginning her mortgage career in 1985, Sydnee Johnson had just scratched the surface of what would become a 34-year prolific profession helping homebuyers achieve their dreams. Then, after working with Premier Mortgage Lending for the past six years, Johnson joined All Western Mortgage with Premier Mortgage owner Rick Piette, both bringing their incredible expertise to AWM.

Superhero 5K to be held Saturday at Mountain’s Edge

Saturday marks the 30th anniversary of the Superhero 5K, one of the biggest fundraisers for the Candlelighters Childhood Cancer Foundation of Southern Nevada. The nonprofit organization helps children and their families who are battling cancer. Early-risers can still join this morning’s race and companion activities at Exploration Park in the Mountain’s Edge in the southwest Las Vegas Valley

Homeowner says HOA towed his car illegally

Most CCRs list the powers and authority of the board of directors, one of which is to sign contracts on behalf of the association. Although you did not send me a copy of the covenants, it would be most unusual if the association board did not have the right to sign a contract with a towing company. The covenants would not list what contracts can or cannot be signed. The ability to tow a vehicle in 2018 was most likely legal.

Tips on selling your home in the fall

For sellers wanting to close before the holiday festivities begin, below are five tips from real estate company, Opendoor, to help sell homes faster.