Las Vegas is experiencing a boom in new home sales. April 2016 proved to be the second highest April for new home sales since April 2008, and homes are selling for the highest prices listed in a decade. The April 2016 home closings sales jumped to 16.6 percent, representing the largest percentage increase since 1992. This increase indicates a surge in economic growth, which coupled with thriving tourism are good news for the Southern Nevada community.

Another indication that the wealthy have more confidence in the Las Vegas economy is the increase in sales of new high-end homes. The Summit Club, a new luxury development in Summerlin, has already sold 72 of the available 140 lots for sale with lots ranging from $2 million to $10 million. Not to mention, 85 percent of the buyers are business owners from Southern Nevada, which shows that the local economy is exhibiting positive trends.