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Friday, August 30, 2013

New-Home Sales Healthier in Las Vegas than Rest of U.S.

Although new-home sales are still well below their pre-recession norms, they have been rising quite notably in the Las Vegas Valley market. In our local market, Las Vegas new-home sales have jumped up nearly 41 percent in July from just one year ago. This is largely attributed to the dwindling inventory of resales available through foreclosure and short sale.
On the other hand, the Commerce Department reported that the annual rate of U.S. new-home sales has dropped 13.4 percent in total, as most Americas cut back sharply on their new home purchases in July.

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