LAS VEGAS, NV – The home of the NFL’s Las Vegas Raiders, Allegiant Stadium, is due to receive a new neighbor on Las Vegas Boulevard in the form of a new hotel in order to give the hundreds of thousands of individuals who travel to Southern Nevada per year to watch the pro football team’s games a nearer place to stay. In 2021 over 1 million sporting fans flocked to Allegiant Stadium, and out of that impressive number, approximately 500,000 of them were visitors from out-of-state. Therefore, after proving to be such a draw as the nation emerges from the COVID-19 pandemic,…
LAS VEGAS, NV – The housing market in Las Vegas, once completely on-fire and breaking records left and right, has now just experienced yet another month of cooling as prices of homes have continued to drop for the third month in a row. In August, the median sales price of previously owned single-family homes – which makes up the majority of the market in Southern Nevada – was down 3.2 percent to $450,000, which represents a $15,000 drop from the previous month. However, all is not grim; despite the drop, home prices are still 11.1 percent higher year-over-year, but the decrease…
LAS VEGAS, NV – The high rents that many Las Vegas residents have been struggling with recently are expected to remain at their current levels for the time being, according to a new report. The one-two punch combination of 40-year high levels of national inflation and increased interest rates brought about by the Federal Reserve’s several recent rate hikes – done in an attempt to curb inflation – have contributed greatly to the strain that’s hitting many Southern Nevada renter’s wallets, said Las Vegas economist Mike PeQueen. “Rent is probably the single largest expense for anybody at this point,” he said.…
LAS VEGAS, NV – A swanky home located in Summerlin’s high-end The Ridges master-planned community was Las Vegas’ top-priced sale in July, fetching a cool $8 million. This goes a long way to proving that while the housing market in Southern Nevada is experiencing an overall slowdown – much like the rest of the country – its luxury homes can still generate some very impressive sales figures regardless. The home in question is located on Promontory Ridge Drive in The Ridges and is situated upon 0.54 acres; originally built in 2005, the home comes in at 12,345 square feet with six…
LAS VEGAS, NV – Due to rising interest rates on home loans marking the end of cheap borrowed money – combined with national inflation currently at a 40-year high – home prices in Las Vegas have actually dropped for the second consecutive month in a row after over a year of consistent, record-setting monthly gains, leading experts to remark that the market in Southern Nevada is “definitely turning.” In July, the median sales price of previously owned single-family homes was $465,000, representing a drop of 3.1 percent – amounting to $15,000 in value – from June, at which time the median sales…
LAS VEGAS, NV – The market for high-rise condominiums in Las Vegas has finally begun to slow after enjoying a period of red-hot activity, reflecting the rest of the cooling real estate scene in Southern Nevada due to rampant national inflation and rising mortgage rates. While many are anticipating some degree of improvement with the announcement earlier this week that mortgage interest rates have dropped below 5 percent for the first time in months, experts note that the scorching hot Vegas summer is also playing a factor in lower high-rise sales, with fewer people willing to brave the heat at the moment…
LAS VEGAS, NV – While the ongoing inflation crisis in the United States, coupled with rapidly-rising interest rates on mortgages, have resulted in the once white-hot housing market significantly cooling in recent months, a ray of sunshine has poked through the clouds as home loan interest rates dropped below 5 percent for the first time in months, providing hope that the market may rebound some for sellers in the near future. For the past year, home prices and demand in Southern Nevada have surged, breaking records on a monthly basis; however, as inflation has gradually increased along with mortgage rates, the…
LAS VEGAS, NV – While the national housing market has showed distinct signs of slowing down after mid-pandemic buying frenzies fueled by low mortgage rates dominated the industry, the high sales rate of new luxury homes in Las Vegas appears to remain red-hot in 2022, with the market already showing a distinct increase when compared to the same period of time in 2021. Reports show that 235 homes costing $1 million or more have closed during the first six months of 2022 in Las Vegas so far, which represents a 16 jump over the number of luxury homes closed on during…
Rental Homes & Investment Properties Boulder City is one of Southern Nevada’s most distinctive residential communities and continues to be a desirable location for rental homes and long-term investment properties. Known for its historic character, small-town atmosphere, and close proximity to Lake Mead and Hoover Dam, Boulder City offers a quieter lifestyle than many surrounding communities while maintaining convenient access to Henderson and Las Vegas. Its established neighborhoods, locally owned businesses, and strong sense of community continue to attract families, retirees, professionals, and residents seeking a more relaxed pace of life. For rental property owners, Boulder City offers solid long-term…
LAS VEGAS, NV – Throughout the COVID-19 pandemic, Las Vegas residents saw their rents increase by what some would consider to be unsustainable degrees; the subsequent increase in gas prices and inflation – which, as of June, hit a whopping 9.1 percent – have only served to put additional financial stress upon not only Southern Nevada residents, but people nationwide. Currently, the local average Vegas rent is $1,480 a month, which is still $140 cheaper national average of $1,620; nonetheless, it still represents a steep increase over previous years, when the average rent jumped 23 percent year-over-year from 2019 to…
LAS VEGAS, NV – After months and months of an infamously tight inventory driving up prices in the ultra-competitive Las Vegas residential real estate marketplace, that slim inventory is finally showing some signs of growing due to a number of contributing factors, including rising interest rates on home mortgages cooling the market somewhat for the time being. Previously, Las Vegas has been inundated with constant bidding wars between homebuyers, with some even being willing to purchase a property sight unseen in order to get an edge; low inventory, combined with historically-low interest rates on home loans, were seen as the main driving…
LAS VEGAS, NV – Amid skyrocketing rents in Las Vegas driving very real cost-of-living concerns, two new affordable housing apartment complexes – both being constructed by the same developer – are set to open soon, allowing families and individuals on a budget a way to put a roof over their heads. Decatur Commons Family and Decatur Commons Senior – neighboring buildings located at Decatur Boulevard and U.S. Highway 95 near Meadows Mall that are being developed by Nevada HAND will offer 480 residential units between them both when the $110 million project is completed. Nevada HAND President and CEO Audra Hamernik…
