Archive for April 30th, 2005

Nevada Economy: February Sales Tax Stats

Saturday, April 30th, 2005

Nevada merchants sold $28.1 billion in goods in the first eight months of fiscal 2005, for a 14.3 percent increase. State tax revenues based on the sales are now $27 million ahead of projections, according to a report from the Nevada Department of Taxation. Statewide, sales tax receipts rose 10.9 percent in February to $3.2 billion, according to the same report. Nevada Gov. Kenny Guinn expressed similar optimism. “With the release of the February sales tax statistics, Nevada once again continues to make positive gains in its economy,” Guinn said in a statement. “These latest figures affirm Nevada’s economic stability, strong consumer confidence and our attractive business climate.” MS Las Vegas Real Estate has been highlighting the strength of the Southern Nevada economy in this blog for most of the last year. The tremendously positive effect this has on the market for Las Vegas homes is truly hard to overstate.

Re-Sale Residential Activity Increases in March

Saturday, April 30th, 2005

Sales of existing homes and condominiums rose by 1% in March to the third-highest sales pace on record as low mortgage rates continued energize the residential real estate market. The National Association of Realtors said that existing home sales advanced nationally to a seasonally adjusted annual rate of 6.89 million units last month, up from a revised February sales pace of 6.82 million units. Sales advanced in all parts of the country except the Northeast, and the gains pushed the median price of an existing home to $195,000, up 11.4% from a year ago. That marked the biggest one-year percentage increase in the median sales price in more than two decades. Las Vegas real estate continues to make an impressive showing in 2005. Resale Las Vegas homes carried a median asking price of $251,000 in January of this year….and here it is, the end of April, and we’re approaching $265,000. Call MS Las Vegas Real Estate to get in on the action at 888-349-2595.