New home sales pick up steam
New homes snag buyers’ interest
The organization called Home Builders Research has reported that despite strong competition from foreclosed homes, there are strong indications that buyers’ interest are shifting to new homes.
Home Builders Research reported that 426 new homes were sold in Las Vegas last month; while 407 new homes were reported sold last July in Las Vegas. Sales for existing homes in Las Vegas reached 3,833 in August; while 4,371 existing homes were sold in July.
Difficulty of finding good foreclosed homes and multiple offers are some of the reasons of the growing interest of buyers for new homes, the research group said. The hassle-free transaction, as opposed to the stressful transaction of foreclosed homes, was cited by Home Builders Research, as one of the reasons why buyers are keen on buying new homes.
The growing popularity of new homes with $100-square foot floor plans is another reason for the buyers’ interest on new homes, the research group said.
The housing market in California is said to be stabilizing, this according to the latest survey conducted by John Burns Real Estate Consulting. The consulting firm gathered its information based on the survey the firm conducted with 269 home building executives.
Good housing market news in California is in way a good for Nevada as the situation of California is close to that of Nevada.
The consulting firm’s vice president of Irvine Jody Kahn said, “For the first time since we began our home builder executive survey 15 months ago, more California builders reported raising prices than those who reported prices were flat or down.”
With the continuous supply of home repos, Las Vegas-based SalesTraq reported that home median price could hit $100,000.