Home builders in Southern Nevada sold 7,303 new homes in 2013. This was up 32% from 2012.
Builders also pulled 6,952 new-home permits in 2013, which is up 18% from the year before. This is a good sign for more construction to come.
Last month, new homes in the Valley sold for a median price of $298,601; this is up 37% from last year. That was the largest year over year percentage jump in 9 years.
Experts don’t expect 2014 to be quite as good as last year. They feel that while prices should increase, they will probably not go up by nearly the amount they did last year. Our local economy and slightly rising interest rates account for their conservative and cautious predictions.