Real Estate Forums

Miami Beach Condos · 03-05-2006, 02:53 PM

The Commerce Department reported that sales of new single-family homes closed the year out topping last year's record sales by more than 6 percent. Total new single-family home sales for 2005 reached a record 1.282 million, up 6.6 percent from the previous annual record of 1.203 million set in 2004.

REMAX LV · 03-25-2006, 01:00 PM

WOW! Those numbers are pretty impressive. I know that here in the Las Vegas real estate market, new home sales were also up. Any predictions for 2006? Do you guys feel that the numbers will decrease or set a new all-time record? I personally think that interest rates will dictate the new home market. If they get too high, re-sales may be the best option because prices are negotiable!

LVH · 03-25-2006, 02:44 PM

I think in Las Vegas we are going to see a decline in new home sales, with the cost of construction and the cost per sq ft these builders have to charge resale homes will be more attractive. I also foresee home sales increasing in 2006 if we see our over inflated market adjust to where it should be with housing cost. Several parts of Las Vegas in the 4Q of 2005 saw over a 20% decrease in sales volume from the previous year, one part of Henderson saw a 45% decrease.

More buyers will come to Las Vegas and purchase that were not able to the last 2 years because they were priced out of the market. Foreclosures will also rise a great deal in Las Vegas over the next 24 months, this will lead to investors coming back into the Vegas market.

Las Vegas Real Estate · 05-26-2006, 03:35 PM

Those are HUGE numbers! Did all of you guys see the major increase in new home sales within each of your markets? I know that within the Las Vegas home market it was very easy to establish. Condo-conversions were the hottest thing around, which is what made up a lot of our numbers!