Records were set in 2003 in both the new and resale segments of the Las Vegas home-selling industry, Home Builders Research Inc. reported in its 2003 year-end report.
There were 2,831 new home sales in December, bringing the year-end total to 25,230 recorded new home sales, a year-to-year increase of 12 percent or 2,728 recorded sales. The median price of a new home in December was $209,611, a year-to-year increase of 12 percent.
There were 4,894 recorded resales in December, bringing the year-end total to 49,792, a year-to-year increase of 30 percent. The median price of a resale home in December was $180,000, a year-to-year increase of almost 15 percent.
Investor sales in new neighborhoods continued to be a concern for home builders in 2003. Richmond American Homes, the area's third-largest builder, will no longer accept any investor sales, Home Builders Research reported.
archive