Tina Frias has been leading the Southern Nevada Home Builders Association (SNHBA) for over six months now, and she is thrilled to be part of the booming new-home market in the Las Vegas Valley. Despite elevated interest rates, Southern Nevada homebuilders have seen a significant increase in sales, with 6,652 net sales in the first six months of 2024, a 19 percent jump from 2023. This growth stands in stark contrast to the national trend, where new home sales fell by 1.1 percent during the same period.
In a recent interview with RJ New Homes, Tina Frias shared her insights on the housing market, her role as CEO, and the future plans of SNHBA. She highlighted that more than 25 percent of home closings are going to new-home buyers, which is a positive sign for the industry. Frias attributed this trend to factors such as the scarcity of existing home inventory due to higher interest rates and builders’ efforts to lower monthly payments for buyers.
When asked about why Southern Nevada is outperforming the nation in terms of housing market growth, Frias pointed to the region’s evolution as a major sports and entertainment hub. With iconic venues like Allegiant Stadium and a reputation for hosting large-scale events, Southern Nevada has become an attractive place to live, drawing in more residents.
However, Frias also acknowledged the challenges facing builders in the region, particularly the rising costs of land. As land prices soar, SNHBA is advocating for federal legislation to increase the availability of developable land in Nevada. The organization supports initiatives like Sen. Catherine Cortez Masto’s proposal to designate 25,000 acres for new homebuilding, but they believe more land is needed to sustain the industry’s growth in the long term.
Another significant issue highlighted by Frias is the shortage of skilled labor in the homebuilding industry. She emphasized the importance of promoting trade careers to young people as a viable alternative to traditional college education. By raising awareness about these opportunities, SNHBA aims to address the labor gap and ensure a steady workforce for the industry.
In addition to land and labor challenges, Frias discussed the impact of utility and municipal regulations on home affordability. While these regulations are intended to protect consumers, they can also drive up home prices. SNHBA is working closely with local governments to streamline the regulatory processes and reduce costs for homebuyers.
Looking ahead, SNHBA is focused on enhancing housing affordability in Southern Nevada. The organization is collaborating with policymakers to identify policies that can help more residents achieve homeownership. They have also approved a strategic plan to guide their future initiatives, including surveys of members and partnerships with community organizations.
Overall, Tina Frias is optimistic about the future of the homebuilding industry in Southern Nevada. She is committed to addressing the challenges facing builders and promoting sustainable growth in the region. With a strong board and a clear vision for the organization, SNHBA is poised to make a positive impact on the local housing market.
