New Homes: Going Up?

Where is Las Vegas real estate going? It’s going up, we’re not talking about prices, we’re talking about buildings.

Land prices are rising and available terrain is shrinking and Las Vegas developers are building up rather than out.

Las Vegas home builders are going to be trying their hand at the three-story homes market in Southern Nevada. According to Dennis Smith, president of Homebuilders Research, home builders are going to face challenges with density and land prices.

Local real estate analysts think that consumers will go for the new ideas. Smith says that smaller builders will follow suit, saying that if the homes are affordable why would people not buy them?

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