Our subscribers recently received Volume 347 of the Las Vegas Housing Market Letter which discusses market activity for the month of August 2016.
HBR President Dennis Smith gives a run down of the latest closings and permits data. Interestingly, both of these tallies are up year-to-year roughly 11.5 percent. This is a strong indicator that the feared "overbuild" is not happening currently in the valley. Median closing prices are down over the last couple of months but this can be attributed to a couple of very strongly producing attached product lines which have closed 65 units in the past three months.
Other topics covered this month include resale home data, master planned communities, rural areas of Southern Nevada, and of course mortgage rates.
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