You Take the Good, You Take the Bad…
The Good News for Sellers and Homeowners
Home Builders Research Inc. reports that:
- From May 2002 to May 2006, the median price for a
- From May 2002 to May 2006, the median prices for a new home sale increased by 81% (from $186,858 to $338,990).
The Bad News for the Buyer and/or Renter
For many people, the higher medican prices means less affordable housing options.
The Solutions
In response to a lack of affordable housing, several pilot programs are rolling out in Southern Nevada to address an ever increasing need. Programs that are either rolled out or will be soon include a senior for-rent housing project slated for five acres at Jones Boulevard and Harmon Avenue and supported by Clark County officials. Officials are also working on a multifamily rental complex on 10 acres at Arby Avenue and Riley Street, south of Interstate 215. Additionally, it is working on is a 400-acre site, of which a portion has already been approved by commissioners to include a mobile home park. The county is also considering attached housing.
For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.
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