It's not only low interest rates pushing up prices to record highs. A historic lack of homes for sale is a big part of it too. And it's making homeownership unaffordable for too many people.
RENO, Nev. (AP) — A real estate website is ranking Reno among the top 20 least-affordable housing markets in the U.S., with cost-burdened households needing to spend nearly half their income to afford a median home.
Sales of homes in Las Vegas dropped in August, but prices went up.
Las Vegas Realtors reports that the median price of a single-family home was a record $335,000, up 1.5 percent from July and 9.8 percent from August of last year.
Despite high unemployment, a severe recession and economic uncertainty, the housing market is on a tear. Sales are booming and prices hit a record high. Low rates and remote work are driving factors.
Companies such as Opendoor, RedfinNow and Zillow will pay cash for your house and buy it quickly. New numbers show these types of sales are growing very quickly, but is it a good idea?
RENO, Nev. (AP) — Homebuyer activity remains strong in the Reno-Sparks area, but new listings are down and the active inventory of housing units also is shrinking.
Developers are building thousands of single-family homes that won't require a mortgage to move in. Even people who could afford to buy are choosing to rent — they aren't ready for the long-term debt.
RENO, Nev. (AP) — Democratic presidential candidate Bernie Sanders has released an online campaign video spotlighting the lack of affordable housing in Reno.
The pool of smaller, affordable starter houses is low. And the market for these first-time home purchases is increasingly being driven by investors who help push prices out of reach.
Las Vegas’ realtor association has predicted improved sales this spring
But the Las Vegas Review-Journal reports that resales are still well below 2018 levels, and the number of ignored listings remains much higher than it was a year ago.
The average home price in Nevada closed out the year virtually unchanged from the month before, but still 10 percent higher than they were one year ago.
The median sales price of homes in Las Vegas from November has remained flat since the previous month.
The Greater Las Vegas Association of Realtors released its monthly report this week showing the median sales price of a single-family home in Las Vegas was $295,000.
In many parts of the country it's actually gotten a bit easier, though not any cheaper, to buy a house. Housing sales are down nationwide, and the market is cooling off.
In much of the U.S., the housing crash hangover lingers. New tabulation of home price data lets you zoom in on hundreds of metro areas and counties around the country.
