I can hear Grandpa in my head. Owning a home was a huge part of the American Dream, and it was dutifully drummed into my head as long as I can remember. Only people who wanted to be poor threw money away on rent, I was told, over and over.
Southern Nevada home sales fell sharply in April and the median price of homes sold held steady, according to statistics released this morning by the Greater Las Vegas Association of Realtors.
A Las Vegas research analyst said today the number of homeowners who are delinquent in their mortgage payments suggests the region is only halfway through its housing crisis. A report released today by California-based research firm CoreLogic said the 90-day delinquency rate for homeowners improved in February.
The owner of a new – but troubled – Southern Nevada office building has agreed to give the property back to the bank. Mammoth Henderson I LLC developed the 63,000-square-foot building at 2470 St. Rose Parkway.
One-third of the existing single-family homes sold during the first quarter of 2011 fetched less than $100,000, according to statistics released by a Las Vegas research firm.
Las Vegas-area home prices fell again in February -- and remain below 2000 levels -- as measured by the Standard & Poor’s/Case-Shiller Home Price Indices.
A decrease in rental prices in some high-end apartment complexes in Las Vegas has made older properties obsolete, according to Colliers International. That trend has paved the way for construction once the economy improves.
Retail sales picked up in Las Vegas in 2010, but that isn’t showing up in demand for retail space in 2011, according to research firms tracking the market. Commercial real estate across the board isn’t faring much better despite improvements in tourism and gaming and a drop in the jobless rate.
Las Vegas homebuilders are in for tougher times this year, the president of the Southern Nevada Home Builders Association said Thursday. Frank Wyatt said the ongoing pipeline of foreclosures continues to make it difficult to compete on prices.
Las Vegas’ existing home prices fell to their lowest level in 21 years during the first quarter and that value pushed sales in March to their highest point in nearly six years.
