Business Services Industry
Las Vegas Housing Industry Nears Record Strength, Industry Expert Says.
Knight Ridder/Tribune Business News, April, 2002
By Hubble Smith, Las Vegas Review-Journal Knight Ridder/Tribune Business News
Apr. 5--The new-home industry has reached a plateau in Las Vegas and will stay at the present level of building and sales activity for the next few months, a local housing expert said.
There were 1,728 recorded new-home sales in February, compared with 1,646 in the same month a year ago, reports Home Builders Research, a firm that tracks home construction and sales.
That brings the two-month total for this year to 3,518, a 9.5 percent increase from a year ago.
The median price for a new home jumped to $181,170 from $178,000 at the end of last year.
The good news is that this "stage of stability" is at or near record strength as measured by some...
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