Las Vegas Real Estate News
Las Vegas
U.S. Builder Confidence Falls in August, Driven by Rising Mortgage Rates
The National Association of Home Builders is reporting this week U.S. builder confidence retreated in August 2023 as rising mortgage rates and stubbornly high shelter inflation have further eroded housing affordability and put a damper on consumer demand.
New Home Mortgage Applications in U.S. Spike 35 Percent in July
Based on the Mortgage Bankers Association's latest Builder Application Survey for July 2023 shows U.S. mortgage applications for new home purchases increased 35.5 percent compared from a year ago. Compared to June 2023, applications increased by 0.2 percent. This change does not include any adjustment for typical seasonal patterns.
Las Vegas Area Home Prices, Sales Remain Relatively Flat in July
Based on new data by Las Vegas Realtors, local Southern Nevada home prices continued to bounce around in July 2023, higher than the previous month, but lower than last year.
Mortgage Applications Dip in Late July
According to data from the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending July 28, 2023, U.S. mortgage applications decreased 3.0 percent from one week earlier.
