Median sales prices for the properties is up but price per square foot is slightly down suggesting that larger units sold. More units sold than in the same quarter last year which is a positive indicator.
Many projects have been sold out for months. It seems to be the resale properties that are in question.
"Restrepo Consulting Group principal John Restrepo said high-rise construction in Las Vegas is not immune to the downturn in housing and national economics."Investors and residents are watching closely to see how high rises will fair compared to single family properties.
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