Subscribers recently received the latest volume of our leading publication, The Las Vegas Housing Market Letter. This newsletter has been the trusted source for monthly information on the Las Vegas housing market for well over 20 years.
In this issue, HBR President Dennis Smith recaps the hard number from March 2016. Of particular note was the new home permits are up nearly 11% from the same point in 2015. However, this fits in with seasonal trends and overall permits figures since 2015 have been basically flat. When looking at median new home price, the figures are trending ever so slightly upward while bouncing up and down month to month. We believe prices are beginning to hit a point of resistance from consumers. As always, the resale segment of the market is also recapped.
To close, Dennis also touches on some interesting apartment figures that were mentioned in our Housing Outlook presentation this month as well as commenting on labor issues facing the industry with the increase in construction activity.
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