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StumbleRising land costs didn’t halt home sales in 1999
Wednesday, Feb. 9, 2000 | 11:02 a.m.
Despite rising land costs, Las Vegas finished 1999 with 21,216 new home sales. That's a 5 percent increase from 1998, according to Home Builders Research, Inc.
The figures included a surprising 2,151 closings in December, which is usually a slower month.
Dennis Smith, president of Home Builders Research, said he believes new-home sales will soften as mortgate rates approach 9 percent.
"But until then, new contract sales are booming," he said.
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