Home prices are still logging huge year-over-year gains, making it all the more expensive to buy a place as people also face higher costs for gas and other daily goods.
Eli Segall
Reporter: Real estate
Email: esegall@reviewjournal.com
Phone: (702) 383-0342
X: @eli_segall
Eli Segall joined the Review-Journal in August 2016 after covering real estate and other business topics for four years at the Las Vegas Sun. He also worked for the Silicon Valley/San Jose Business Journal, The Associated Press and other news groups. Segall has a bachelor’s in political science from the University of Michigan and a master’s in journalism from the University of Maryland. His awards include 2017 Story of the Year from the Nevada Press Association.
The luxury house in The Summit Club, a wealthy enclave in Summerlin, features a “secluded private apartment.”
Southern Nevada’s housing market is no stranger to volatility — and lately, it seems the industry is on anything but even ground.
Blackstone announced Friday that it closed its acquisition of billionaire James Packer’s Crown Resorts Ltd., saying this marked its largest transaction to date in the Asia-Pacific region.
The new landlord’s portfolio featured 120 properties across 27 states by the end of last year.
Buyers are pulling back in Southern Nevada and other metro areas amid sharply higher borrowing costs.
It was the latest high-priced deal in Las Vegas that did not produce transfer tax revenue that supports schools and low-income housing in Nevada.
Locally and nationally, the number of price cuts rose for the third consecutive month in May.
Tilman Fertitta owns the Golden Nugget, but his latest purchase gives the business mogul a foothold in the heart of America’s casino capital.
The 1970s-era building was developed by the late Irwin Molasky, was one of Las Vegas’ most influential developers outside the Strip.
“We could be facing years, not months, of fewer home sales,” the CEO of Redfin said.
America’s casino capital “used to be an affordable alternative to California,” but rising prices and a hot market have made it “less attractive” for new buyers, report says.
A recent deal at almost $6 million per-acre didn’t even come close to a sale up the street.
Spanning more than half the size of Summerlin, a sprawling ranch property in Northern Nevada has hit the market for $100 million.
Las Vegas rental rates are climbing faster than the national average, and Nevada faces a steep shortage of affordable units.