Homebuyers Paying Record Amounts for New Construction in Las Vegas.

Dated: August 30 2021

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Builders’ median closing price in Southern Nevada was an all-time high of around $419,950 last month, up 13% from a year earlier, according to Home Builders Research. Search for new homes (here)

Las Vegas buyers are in a frenzy for housing, sparking concerns and prompting more buyers than usual in the valley to look for homes in rural, less expensive Pahrump some 60 miles away. (see homes here)

Las Vegas-area homes are selling for nearly 42% over long-term trends, making it the ninth-most overvalued market in the nation, according to professors at Florida Atlantic University.

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Kenneth Manesse

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