New Home Builds Remain Steady in Las Vegas Despite Housing Slowdown
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Despite volatility, new home builds in Southern Nevada have remained steady, averaging around 11,000 per year since 2018.
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While overall Las Vegas real estate sales are down, new builds have been a lifeline, accounting for 35% of sales this year.
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New build companies offer incentives like lower rates and cash back to buyers amidst rising rates.
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Limited resale inventory has driven more buyers to new construction options.
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Concessions are common with new builds, though limited supply prevents even more widespread use.