Despite rising mortgage rates slowing new and existing home sales, a housing expert told the Southern Nevada homebuilding industry that’s temporary and with 6,000 people moving to Las Vegas a month, there could be a housing shortage within the next one to two years.
A penthouse at Turnberry Place sold for $6.5 million and led 2022 as the top resale in the luxury condo market.
The high-rise condo market showed a lot of resilience in 2022 by posting its second highest number of closings in history despite falling 23 percent from the all-time record in 2021 and posting one of its highest annual prices per square foot.
Local home prices continue to decline, with more homes available for sale and fewer being sold than one year earlier. So says a recent Las Vegas Realtors report.
DIV Industrial has acquired 94 acres for the development of El Dorado Valley Logistics Center, a 1.7-million-square-foot Class A industrial complex.
Sales in Las Vegas master-planned communities took a bigger hit than the nation as a whole in 2022 amid rising mortgage rates but the valley managed to have three ranked in the top 25 and five in the top 50.
The National Association of Home Builders returns this week to Las Vegas for the first time since 2020 as part of its International Builders Show that’s expected to bring more than 100,000 people to the city.
In an industry in which women don’t often ascend to the highest ranks, Nicole Bloom wants her term as the third-ever female president of the Southern Nevada Home Builders Association to empower fellow women to make it a career like she’s done.
The new leader for Las Vegas listings came out at $18 million in the spring of 2021 but was bumped up to $24.8 million earlier this year.