The National Association of Home Builders/Wells Fargo housing market index dropped 58 percent from March to a score of 30 this month, the largest monthly change in the history of the index.
House-flipping companies like Zillow, Offerpad and Opendoor have temporarily stopped buying homes in Las Vegas because of the spread of coronavirus.
Las Vegas’ housing market had another big jump in sales from year-ago levels as prices stayed relatively flat, a new report shows. (James Schaeffer / Las Vegas Review-Journal)
Del Webb, developer of 55-and-over communities, is holding a ceremonial groundbreaking Wednesday for a 10,000-square-foot clubhouse in a new housing tract in Henderson. The community, Del Webb Lake Las Vegas, will span 125 acres and feature 460 homes priced from the low-$400,000-range.
To afford renting a typical one-bedroom apartment in Las Vegas, a minimum-wage worker without health benefits would need to clock 73 hours a week. Nevada’s minimum wage is $8.25 per hour for employees who are not offered health benefits, and $7.25 an hour for those who do receive benefits. “It’s clear that the minimum wage is not a livable wage,” said Andrew Aurand, vice president for research at NLIHC. In Las Vegas, a resident working 40 hours a week would need to make an hourly wage of $18.71 to afford a two-bedroom apartment.