Archive for March 16th, 2005

Las Vegas Real Estate: March National Housing Market Index

Wednesday, March 16th, 2005

A modest increase in home mortgage rates over the past month hasn’t dampened builder enthusiasm in the market for new single-family homes, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The confidence gauge remained unchanged in March from an upwardly revised reading of 69 in February. The NAHB/Wells Fargo Housing Market Index is derived from a monthly survey of builders that NAHB has been conducting for nearly 20 years. On a regional basis, the index gauging builder confidence in the Northeast rose six points to 74 in March, while the index for the West rose four points to 83. Builders in the South posted a one-point HMI decline to 73, while builders in the Midwest ? where the job market remains relatively weak ? posted a two-point decline to 53. As a member of the western region, Las Vegas real estate market conditions continue to be reflective of the regional data.

U.S. Housing Starts Rise at Fastest Rate in 21 Years!

Wednesday, March 16th, 2005

Builders broke ground on new homes at the fastest rate in 21 years last month, the federal government reported Wednesday, maintaining the feverish rate of new construction seen over the last few months. The U.S. Commerce Department reported that housing starts rose 0.5% in February to a seasonally adjusted 2.195 million annual rate, the highest level since February 1984. The February advance came amid expectations that housing starts would taper off after significant gains in recent months. January housing starts were revised higher to show a 6.2% increase, while starts in December had risen by 14%. Building activity in the Las Vegas real estate market remains brisk to say the least.

Luxury Golf Real Estate at Southern Highlands Estates

Wednesday, March 16th, 2005

Christopher Homes has released two Las Vegas homes for sale in The Enclave, a gated neighborhood of Las Vegas luxury real estate within the guard-gated Southern Highlands Golf Club. Both residences were designed by Scheurer Architects, a firm that was commissioned to create a unique home for each of the 16 lots in The Enclave, which is located in the Southern Highlands master-planned community. The newly released Las Vegas luxury homes measure about 5,700 and 6,200 square feet and are priced at $2 million and $2.2 million, respectively. This is a stunning new addition to the market for Las Vegas golf real estate in Las Vegas.