Mesquite NV real estate continues to move. New home building permits in Mesquite NV are ahead of last years numbers. Much of this can be attributed to Sun City Mesquite, the new, 55 plus active adult community being developed by Pulte Del Webb.
Home prices are being impacted by Sun City Mesquite as well as building permits. Last month they closed nearly 20 homes with an average price of $149 per square foot. This new home price is far below what many paid over the last four to five years in Mesquite NV.
The number of vacant, relatively new homes remains very high, speculators caught by the market. Rental unit vacancy rates are also high and rents appear to be coming down. The numbers of properties on the notice of default list appear to be growing, which may lead to a wave of foreclosured properties in the future.
Mesquite NV is located 90 miles Northeast of Las Vegas NV and 40 Southwest of St George UT and has a great deal of appeal to the retiring boomer generation. Mesquite NV offers an excellent climate, no state income taxes, many golf courses, and casinos. The challenge seems to be the affordability issue.
Chris W. Miller
ERA Brokers Consolidated
Mesquite NV 89027
702 346-7200
435-862-5951
Mesquite Market
Lincoln County Land Market
Nevada Ranch Properties
chris@mesquitemarket.com
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Chris - Strong look into your local community. And you are right, I believe the challenge many places are nation faces is affordablilty. Home Prices rose much faster than the income to pay for them.