|
Home | Profile | Archives | Blog Manager Recent PostsHottest Cities for SellingNew Construction going back to Normal Pace Happy Valentines Day Home Prices Down a Little in Las Vegas Trivia CategoriesAbout Las Vegas & Real EstateMiscellaneous Mortgages Listings Condo Living Household Safety Tips Food The Young Senior Citizens Holidays Networking Real Estate Process Real Estate Terms Sellers Buyers Favorite LinksMy Web SiteMy Other Web Site Wanda's Country Home FoundingFamily.org
You can find great local Nevada real estate information on Localism.com Mary Warren is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business. ArchivesFebruary 2006Hottest Cities for SellingPosted at 1:25 PM, Feb. 28, 2006No. 1: Dallas
The median price of a new home in Las Vegas dropped to $303,751 in January from $309,900 in December. The price is up 7 1/2% from the same time last year. New Construction going back to Normal PacePosted at 1:10 PM, Feb. 22, 2006A decline in new home orders by some of the nation's large builders reflects a softening in the housing market that is being felt in Las Vegas, a local housing research expert said.
KB Home, the No. 1 builder in Las Vegas with 3,936 closings in 2005, recently filed a report with the Securities and Exchange Commission that said cancellations of new home orders rose during the first two mnoths of the year while net orders for new homes fell. That follows a report from Toll Bros., a high-end home builder with 374 closings in Las Vegas last year, that orders for new homes fell 21 percent in the first quarter.
"It's softer than it was, the way it should be," said Dennis Smith, president of Home Builders Research, "because we all knew it was going to slow down sooner or later. We got away from talking about cycles and started talking about bubbles. The cycle is on the downward slope of the peak, but we're going to be OK."
Excluding apartment conversions, Las Vegas is going to be hard-pressed to match last year's record of 30,750 single-family detached new home closings, Smith said. He counted 31,010 new home building permits in 2005, down 1,869, or 5.7 percent, from the previous year.
"I think most of the big builders will struggle to meet last year's totals," he said. "Anytime you have interest rates on the rise, you're going to have higher cancellation rates. People are not able to qualify or if they haven't locked in their payment and rates during the construction of the house, if rates go up twice during that six months, they go to close and find out their payment has increased since they signed their contract. They might get cold feet." { 0 comments } { add comment } { Permanent Link }
View more entries tagged with: About Las Vegas Real Estate Happy Valentines DayPosted at 12:08 AM, Feb. 14, 2006Home Prices Down a Little in Las VegasPosted at 3:16 PM, Feb. 10, 2006The median price of a single-family home in Las Vegas dropped by $2,500 in January 2006 from December 2005, reports the Greater Las Vegas Association of Realtors.
Currently the median price of a home is at $310,000, down 0.8% from December, but it's an 8.8% increase from January 2005. The average price of a house is up in Las Vegas over 16% from a year ago. { 0 comments } { add comment } { Permanent Link }
View more entries tagged with: About Las Vegas Real Estate TriviaPosted at 4:30 PM, Feb. 9, 2006THINGS YOU SHOULD KNOW BUT PROBABLY DON'T { Last Page } { Next Page } |
View more entries tagged with: About Las Vegas Real Estate