During the decade following the Great Recession, housing in Clark County grew by 12.0%, while the population increased by 16.1%, leading to an affordable housing crisis. Despite a surge in construction, housing prices soared, making it difficult for many to afford homes. President Biden proposed programs to address the issue, including tax credits and incentives for first-time homebuyers. Continue...

Reno is a great place to live for those who enjoy sunshine, short commutes, and a friendly community. Henderson is a great place to live for families and young people, with good schools and plenty of outdoor activities....

15. Louisville, KY: ↓ 5.3% yearly 14. Dallas, TX: ↓ 5.6% yearly 13. New Orleans, LA: ↓ 6% yearly 12. Cleveland, OH: ↓ 6.1% yearly 11. Nashville, TN: ↓ 6.5% yearly 10. Sacramento, CA: ↓ 6.6% yearly...

Multifamily dwellings are prevalent in Nevada due to various factors like job growth and lifestyle preferences. Rental prices rose during the pandemic but are now stabilizing. Affordable housing initiatives are on the rise, and Nevada is considered investment-friendly for landlords. Numerous multifamily projects are in the pipeline, catering to both market-rate and affordable housing...

Nevada has seen the highest growth in home prices compared to wages in the US since 2011. Las Vegas home prices have grown 217% since 2011, while wages have only grown 39%....

One in 10 homebuyers use retirement accounts for down payments, which financial planners say can be a reasonable option if done as a loan. The IRS sets limits to protect savings, and while it affects long-term growth, it can make sense for those prioritizing homeownership. Younger buyers are more likely to use this option, but it's advised to explore other options first. Continue to full...

Mortgage rates are rising, with the average rate for a 30-year fixed mortgage reaching 6.87%. Economists predict rates will stay high for a while, impacting the housing market. Fannie Mae expects rates to remain above 6% for the next two years. Home prices are high due to a shortage of inventory. Continue to full article...

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Las Vegas has the 7th smallest gap between owning and renting, with a difference of $241/mo. The median monthly cost of a mortgage in Las Vegas sits at $1,726....

Some Nevada homebuyers may save up to $440 per month with proposed programs in Las Vegas. President Biden's budget includes a Mortgage Relief Credit in 2025, offering tax credits of $10,000 split over two years for first-time buyers. The plan aims to help middle-class families purchase homes and stimulate the housing market. Continue to full article...