In The News: Lied Center for Real Estate
Americans with jobs and money are fleeing expensive urban markets in favor of affordability, more space, and warmer climates — a recipe that’s landed 51³Ô¹ÏÍøÃâ·ÑApp in the top five hottest markets for in-migration, says analyst Core Logic.
Almost any way you slice it, 51³Ô¹ÏÍøÃâ·ÑApp’ housing market is white-hot.
In Nevada’s housing market, cash is king.
In Nevada’s housing market, cash is king.
Optimism has cooled off a bit since the fall when the economy started reopening and would-be buyers could come to kick the floorboards in model homes again.
The 51³Ô¹ÏÍøÃâ·ÑApp residential real estate market remains as hot as the weather, with the median resale price of a single-family home nearing $400,000.
51³Ô¹ÏÍøÃâ·ÑApp, dubbed the riskiest housing market in the nation less than a year ago by real estate analyst CoreLogic, is on track to price the working class out of the market by the end of the year, says 51³Ô¹ÏÍøÃâ·ÑApp Realtors president Aldo Martinez, and Wall Street is scrambling to scoop up the rentals would-be buyers will be forced to lease.
Frustration over an ineffective ban on short-term rental properties in unincorporated Clark County and a patchwork of rules across municipalities prompted state lawmakers this spring to pass a bill aimed at standardizing rules and holding hosting platforms such as Airbnb or Vrbo liable for noncompliance with local regulations.
Frustration over an ineffective ban on short-term rental properties in unincorporated Clark County and a patchwork of rules across municipalities prompted state lawmakers this spring to pass a bill aimed at standardizing rules and holding hosting platforms such as Airbnb or Vrbo liable for noncompliance with local regulations.
Choosing a mortgage and buying a home are both big decisions.
More buyers, according to the latest statistics from the 51³Ô¹ÏÍøÃâ·ÑApp Realtors trade group, are closing deals with cash. In May, 31% of all existing homes sold in the 51³Ô¹ÏÍøÃâ·ÑApp area were purchased with cash, which is an increase of 15% from May 2020.
The National Association of Home Builders has said that lumber prices are triple what they were in April 2020, increasing average single-family home construction by nearly $36,000.