Las Vegas, NV - Local Housing Data - Summary

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Las Vegas, Paradise, NV

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Las Vegas, NV Local News

  • Top 25 New-Home Price Hikes in 2014

    Where in the nation are new-home prices on fire? Here, BUILDER looks at the top 25 markets racing away from affordability.

  • The Top 5 Big Cities for Buying Big Homes

    Where can both the active adult and entry-level buyer go in search of a spacious new-home without paying high prices in the country's biggest metros? BUILDER ranks the top five markets for the metropolitan new-home buyer seeking space, and the builders leading in each market.

  • Woodside Plans to March in the Public Parade

    Salt Lake City-based Woodside Homes somewhat expectedly announced it will offer shares of its equity to the public in an upcoming initial public offering, the third company in 2014 to do so, and the ninth in since January 2013. Having exited bankruptcy in 2009, Woodside's...

Prices of New Homes Increase in Las Vegas, Sales Drop - July 2014

Posted on: Jul 08, 2014 07:01:46 AM

In the Las Vegas, NV market, new home closings dropped year-over-year in April, and there were signals the market may be worsening with a percentage fall steeper than that of March 2014. Closings fell 39.3% from a year earlier to 388. This was after the housing market saw a 38.1% fall year-over-year in March.

A total of 6,162 new homes were sold during the 12 months that ended in April, down from 6,413 for the year that ended in March.

Out of all housing closings, new home closings represented 7.9%. This is down from the 10.9% of closings a year earlier. Following a year-over-year decline in March, closings of new and existing homes also fell year-over-year in April.

Pricing and Mortgage Trends

For newly sold homes, the average price rose 9.5% year-over-year in April to $314,871 per unit. This bump is smaller than the 21.6% boost in March year-over-year.

The average mortgage size on newly sold homes grew year-over-year along with the average price of new homes. The average mortgage size rose to $263,826 in April, marking a 12.7% rise compared with a year earlier. In March 2014, average mortgage size jumped 22.4% from a year earlier.


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