{"id":1004052987,"date":"2012-06-03T14:16:29","date_gmt":"2012-06-03T22:16:29","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=50470"},"modified":"2022-12-08T11:35:35","modified_gmt":"2022-12-08T19:35:35","slug":"new-home-demand-and-building-rebound-land-prices-lag","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/new-home-demand-and-building-rebound-land-prices-lag\/","title":{"rendered":"New Home Demand and Building Rebound; Land Prices Lag"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>After a long drought, the Las Vegas housing market finally has some good news for homebuilders. New home permits are up 40 percent across the board, with Las Vegas, North Las Vegas and Henderson among the most active areas, according to VegasInc. Prices are staging a comeback as well; so far this year, average asking prices for new homes are up 6 percent compared to 2011.<\/p>\n<p>Harmony Homes, to name one local builder, is experiencing an 80 percent to 90 percent increase in new orders compared to 2011, VegasInc reported. At that pace, Harmony expects to double last year\u2019s production.<\/p>\n<p>A twist on the trend is illustrated by D.R. Horton&#8217;s recent $7.5 million acquisition of <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/05\/800px-Rumson_New_Home.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-50471\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/05\/800px-Rumson_New_Home.jpg\" alt=\"\" width=\"300\" height=\"199\" \/><\/a>Whitney Mesa Estates a parcel in Houston slated for a 275 single-family homes. As that transaction suggests, the cost of land has yet to recalibrate to the resurgent housing market. Rick Hildreth of\u00a0Land Advisors Organization, who represented D.R. Horton on the transaction, told the Las Vegas Review Journal that land prices in the Las Vegas metro market range between $50,000 and $200,000 per acre for single-family development and $150,000 &#8211; $250,000 per acre for multi-family projects.<\/p>\n<p>Image courtesy of user <em>Wikijazz<\/em> via <em>Wikimedia Commons <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Girda, Associate Editor After a long drought, the Las Vegas housing market finally has some good news for homebuilders. New home permits are up 40 percent across the board, with Las Vegas, North Las Vegas and Henderson among the most active areas, according to VegasInc. Prices are staging a comeback as well; so [&#8230;]<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,1593,21742],"tags":[],"class_list":["post-1004052987","post","type-post","status-publish","format-standard","hentry","category-development","category-las-vegas","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New Home Demand and Building Rebound; Land Prices Lag - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/new-home-demand-and-building-rebound-land-prices-lag\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Home Demand and Building Rebound; Land Prices Lag\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor After a long drought, the Las Vegas housing market finally has some good news for homebuilders. New home permits are up 40 percent across the board, with Las Vegas, North Las Vegas and Henderson among the most active areas, according to VegasInc. Prices are staging a comeback as well; so [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/new-home-demand-and-building-rebound-land-prices-lag\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-06-03T22:16:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T19:35:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/05\/800px-Rumson_New_Home.jpg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-home-demand-and-building-rebound-land-prices-lag\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-home-demand-and-building-rebound-land-prices-lag\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"New Home Demand and Building Rebound; 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