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Article: Even as Land Prices Rise, Las Vegas-Area Housing Market Stays Hot.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 5, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Hubble Smith, Las Vegas Review-Journal Knight Ridder/Tribune Business News
Mar. 5--As long as Las Vegas maintains positive employment numbers and in-migration, land and housing prices will continue to rise, a local housing expert said Tuesday.
The valley remains one of the nation's hottest housing markets, even as land prices creep to $200,000 an acre and new home prices jump 8 percent a year, said Dennis Smith, president of Home Builders Research.
That's because Las Vegas is getting 6,600 new residents every month and job growth was 2.8 percent in 2002, Smith said at his annual Las Vegas Housing Outlook, which drew about 500 people to ...