Nevada HAND receives 2,000 calls a day from people seeking affordable housing and only has a “handful” of vacancies in its 4,700-unit portfolio, the president and CEO said.
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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.
The luxury house in The Summit Club, a wealthy enclave in Summerlin, features a “secluded private apartment.”
Buyers are pulling back in Southern Nevada and other metro areas amid sharply higher borrowing costs.
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.
Las Vegas rental rates are climbing faster than the national average, and Nevada faces a steep shortage of affordable units.
The buyer, British businessman Simon Dolan, made headlines for challenging the U.K. government in court over the country’s pandemic lockdowns.
Despite Las Vegas’ rapid price gains, several other cities logged even higher growth.
Shaquille O’Neal is looking to cash in on his luxury Las Vegas home. The 7-foot-1-inch basketball Hall of Famer put his 4,824-square-foot house near Sunset Park on the market this month.
Home sales have tumbled lately as the cost to buy a place grows.