Just over 27 percent of pending sales in the Las Vegas area fell through in June, the highest cancellation rate in the nation, according to Redfin.
red hot housing
In Southern Nevada, builders’ sales tally last month was the lowest of the year and marked the third consecutive month of sliding sales.
Four communities in Southern Nevada are among the top 20 nationally for homebuilders’ sales, but overall, house hunters are pulling back from last year’s buying binge.
There’s no way to predict where the market will head in the coming months, but for now, it’s cooling off.
After multiple ownership changes, Jerry Lewis’ Las Vegas home is set to hit the market again for $2.7 million after it got touch-up renovations to modernize the property.
Las Vegas house prices drop for first time in over two years as sales keep falling.
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.
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.”
Southern Nevada’s housing market is no stranger to volatility — and lately, it seems the industry is on anything but even ground.
Locally and nationally, the number of price cuts rose for the third consecutive month in May.
“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.
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.
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