Las Vegas housing report indicates home prices retreating from all-time high

Las Vegas home prices have slightly declined from record highs, with the median single-family home price at $480,000 in April, down 1% from recent peaks but up 2.3% year-over-year. Condo prices also dipped slightly but remain above last year’s levels. Inventory rose sharply, with single-family homes for sale up 78.7% and condos up 91.5% from last year. Sales slowed, with a more balanced market and over...

Homeownership further out of reach as prices, high mortgage rates widen affordability gap

Homeownership is increasingly unaffordable as mortgage rates near 6.76% and median home prices hit $431,250, requiring an annual income of $114,000 to buy. This is $47,000 more than six years ago. While home sales have slumped and prices rise slowly, active listings have surged over 30%, with more sellers reducing prices, offering better opportunities for prepared buyers. Continue to full...

6 Essential Estate Planning Strategies for Wealth Preservation

Estate planning is crucial for wealth preservation, involving strategies to protect and transfer assets, minimize taxes, and ensure wishes are honored. Key components include creating a will to prevent disputes, obtaining life insurance for financial security, and setting up trust accounts for tax benefits. Family Limited Partnerships (FLPs) can aid in asset transfer while maintaining control....

Las Vegas Valley needs more apartments, association says

Nevada faces a supply-demand imbalance in rental housing, driving up living costs, especially in Las Vegas Valley. Rent increased 4.6% recently, with occupancy slightly above the national average. Challenges include high interest rates, material costs, labor shortages, and bureaucratic delays. Population growth demands more housing, urging policy reforms to ease construction and increase land...

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