The Greater Las Vegas Association of Realtor (GLVAR) reported Friday that more existing homes were sold in Southern Nevada in 2016 than in 2015, even with a tight housing supply and rising home prices.
The commercial real estate market in Southern Nevada ended 2016 on an upswing, with positive momentum in the office, industrial and retail markets.
According to the National Association of Realtors, a big surge in the Northeast and a smaller gain in the South pushed U.S. existing-home sales up in November 2016 for the third consecutive month.
The impact of the Federal Reserve's decision this week to raise the Federal Funds Rate by 0.25 percent on all U.S. real estate markets and sectors could be significant in 2017.
Existing-home sales in the U.S. are forecast to muster only a small gain in 2017 because of increasing mortgage rates and shrinking consumer confidence that now is a good time to buy a home.
According to the Mortgage Bankers Association's Commercial/Multifamily Delinquency Report, delinquency rates for commercial and multifamily mortgage loans remained low in the third quarter of 2016.
Southern Nevada home prices bucked seasonal trends and increased heading into the holidays while home sales continued to exceed last year's pace.
According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes in the U.S. fell 1.9 percent in October 2016
According to AAA, over 48.7 million Americans will journey 50 miles or more from home this Thanksgiving holiday, an increase of one million travelers compared with last year.
According to the National Association of Realtors, existing-home sales in the U.S. ascended in October 2016 for the second straight month and eclipsed June's cyclical sales peak to become the highest annualized pace in nearly a decade.
Led by impressive gains in both single-family and multifamily production, nationwide U.S. housing starts surged 25.5 percent in October 2016 to a seasonally adjusted annual rate of 1.32 million units.
The National Association of Home Builders is reporting this week that U.S. builder confidence in the market for newly built single-family homes held steady in November 2016.
The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased 14 basis points to a seasonally adjusted rate of 4.52 percent of all loans outstanding at the end of the third quarter of 2016.
The Baird/STR Hotel Stock Index decreased 0.8% in October 2016 to close the month at 3,108. Year to date, the index remains up 0.4%. Hotel stocks outperformed in October amid low investor expectations and rising interest rates.
According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. fixed mortgage rate moved higher in early November.
In the month of October 2016, local housing supply remains tight as Southern Nevada home prices and sales cooled a bit from previous months but remain ahead of last year's levels.
According to the Mortgage Bankers Association's Builder Application Survey for September 2016, U.S. mortgage applications for new home purchases increased 3 percent relative to September 2015.
According to CoreLogic's August 2016 National Foreclosure Report , U.S. home foreclosure inventory declined by 29.6 percent and completed foreclosures declined by 42.4 percent compared with August 2015.