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New Home Prices Soar Over Resales In Las Vegas

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AP Photo/Isaac Brekken

A sale advertisement is pictured in The Lakes neighborhood in Las Vegas Friday, Dec. 2, 2011.

New homes cost more than used homes, but in Las Vegas, the sticker shock can be overwhelming.

Why the bigger mark up for new homes? Are buyers being lured away from less expensive homes by new developments?

Eli Segall is a business reporter for the Las Vegas Sun, and recently wrote about prices of new homes being 64 percent higher than the median price of resales.

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Eli Segall, business reporter, Las Vegas Sun.

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