Las Vegas Settles Down

Printer-friendly versionSend by email

The once red-hot Las Vegas housing market is now showing signs of a return to normalcy, proving once again that markets do work, if they are allowed to function. Larry Murphy, president of Sales Traq, a Las Vegas firm that tracks new housing production within the context of the whole housing market, reports prices are now on a plateau in both the new and resale housing sectors.

December 01, 2004

The once red-hot Las Vegas housing market is now showing signs of a return to normalcy, proving once again that markets do work, if they are allowed to function.

Larry Murphy, president of Sales Traq, a Las Vegas firm that tracks new housing production within the context of the whole housing market, reports prices are now on a plateau in both the new and resale housing sectors.

Because the number of new home subdivisions is now at a four-year high, demand may look like it's slowing to some builders. "It's not," says Murphy. "With 337 active subdivisions, average sales per subdivision slipped to 6.58 in October this year, the lowest point since January, but still healthy."

Comments on: "Las Vegas Settles Down"

March 2014

This Month in Professional Builder

Products

For all of its fiberglass doors, Jeld-Wen now incorporates Neopor, an exclusive technology from BASF that has advantages over the industry-standard urethane core.

Features

Trade-specific occupations represent 64 percent of all jobs in the residential construction industry, and carpenters represent almost half of those construction jobs.