Las Vegas housing sector sees positive signs in August
Las Vegas’ housing sector had a good month in August with more new home purchases, higher sales prices and a jump in construction permits.
A total of 602 new homes were sold last month in the Las Vegas Valley, up 60 percent from the same period a year ago, according to a report this week from SalesTraq, a subsidiary of Las Vegas-based research firm Applied Analysis.
The median new home closing price rose 3.5 percent last month, to $204,737.
In addition, some 573 new home permits were pulled, up 70 percent from a year earlier.
A total of 4,697 used homes were sold last month, down 18 percent from a year ago. Yet the median sale price rose 16.5 percent in August to $121,000, the highest reported median since June 2010, says SalesTraq.