Las Vegas high-rise closings set an all-time record during the first six months of 2022 but the condo market — like the single-family home segment — has slowed.
While overall new home construction slowed during the first six months of 2022, closing of homes $1 million and higher rose 16 percent over 2021.
Experts say there’s definitely a pause in the commercial real estate development market given concerns about the economy and a potential recession. Still, they say, it’s nothing like what happened in the run up in the late 2000s with the Great Recession hitting real estate and development hard.
Perched on an elevated site in Spanish Hills, the one-of-a-kind property showcases iconic, panoramic views of the entire Las Vegas Valley.
Las Vegas Realtors announced the results of the association’s annual election of officers and board members, with longtime local Realtors Lee Barrett serving as its 2023 president and Merri Perry serving as 2023 president-elect.
Despite a slight reduction, sales higher than $17 million dominate the news cycle in June with two high-profile sales. There a;sp were two sales in the $9-million-plus range.
A recent Nevada State Apartment Association report shows apartment rents in Southern Nevada beginning to decelerate and suggests “this historic run of rent growth is unlikely to continue.”
Berkshire Hathaway HomeServices Nevada, Arizona and California Properties has promoted its general manager Troy Reierson to CEO. Mark Stark, who has been with the company since 1985 and been its CEO since 1997, has become its chairman.