Once again Nevada leads the nation in home price growth

Nevada real estate prices grew by 24.6% from a year earlier, during the month of April. This represents the highest growth in the US, well above the national average of 12.1%. This great news for REITs focusing in Nevada and landowners within the state.

The growth is driven by increased real estate investment purchases and the diminishing supply of vacant properties. The number of houses for sale is 14% lower than it was a year ago, a major factor driving up prices.


Las Vegas ranked #1 city to live and play by National Geographic

The recent resurgence of adventure tourism to Las Vegas led National Geographic writer Dan Koeppel to rank the city as the number one place to live and play.


Stock prices rally behind surging real estate market

US stock prices sustained substantial growth Tuesday morning, after the largest housing price rise in seven years. The Dow Jones climbed as much as 218 points in addition to the 10-year Treasury yield rising to its highest level in over a year. Overall, investors confidence is growing as funds are being moved into assets with higher growth potential, like equities, from the ulta-safe places they've been kept for years.


Nevada housing price index up 19.7% in past year released their most recent report of the Nevada economy with detailed information from the Nevada State Bank. The state housing price index is up 19.7% compared to the same perioed in 2012, and up 5.5% from the previous reporting perioed in 2013. This is excellent news for owners of real estate in Las Vegas, as the recent surge in prices has continued into the early summer.


Large new office complex going up in Henderson

In a time when construction and sales of office space have grinded to a standstill, Stable Development is turning the corner with a 3-story 47,000 square-foot office building in the Las Vegas suburb of Henderson. It has secured it's main tenant, Prudential Americana Group Realtors, as well as a secondary tenant Equity Title of Nevada.

Site preparation is set to begin today, and the groundbreaking ceremony is scheduled for Thursday.


Summerlin sees record land sales in first quarter of 2013

Summerlin, a 22,500 acre master-planned community on the western edge of Las Vegas, quadrupled their sales numbers in the first quarter of 2013 compared to one year ago. The development had $28.2 million of residential land sales in the first quarter of 2013, reported developer Howard Hughes Corp. This almost matched the sales revenue for all of 2012, $31 million.

CEO David Weinreb was "particularly pleased that the Las Vegas housing market is showing such strong improvement."


Construction begins on Las Vegas's first industrial complex since the recession

FedEx Corp. began building the initial component of first new industrial hub in Las Vegas since the recession, reports Vegas Inc. Construction began this week in Henderson, Nevada on a major distribution centre for FedEx Ground. The facility is expected to be 300,000 square feet and is scheduled to open in January.

The FedEx building is the first of 14 planned buildings of the South15 Airport Center, a 170-acre industrial hub that will employ roughly 2,900 people.


April another strong month for Nevada home prices

Two studies released Tuesday report excellent results for housing prices in Nevada, and Las Vegas in particular. CoreLogic found that Nevada led the nation in home price appreciation in the month of March, with an average 22.2% increase, while The Greater Las Vegas Association of Realtors reported a 30.6% increase in single-family homes from one-year ago. The numbers on condos and townhomes are even better, with an annual increase of 41.9%, to close at an average of $85,000 for the city.


Mortgage quality improving rapidly in Nevada and nationwide

First-time delinquent home loans have fallen below 1% for the first time since 2007, closing at 0.84%, according to a report on Monday by Lender Processing Services. The decline in poor loaning practices is "propelling the worst real estate crash since the Great Depression into the rearview mirror."


"US home prices rise at fastest pace in 7 years"

Prices in the US residential housing market are growing at the fastest annual pace since 2006. The S&P/Case-Shiller home price index closed at 146.57 in February, representing a 9.3% increase in the past year. Monthly, home prices are increasing by 0.3%, the largest gain since October 2005.

Las Vegas prices rose by 17.6% in the past year, making it the third highest annual gain of the 20 cities measured. Only Phoenix and San Francisco were ahead of Las Vegas, with annual gains of 23% and 19%, respectively.