The Las Vegas Sun reports today that “Sales of existing homes in Las Vegas ended a two-year run of year-to-year increases in May.”

The Sun said, “DataQuick reported June’s sales of existing homes priced below $100,000 fell to 28.9 percent of all transactions. Such sales were 32.1 percent of all transactions in June 2009. The sale of homes from $100,000 to $200,000 rose to 47.6 percent, up from 43.9 percent a year ago. Foreclosure sales fell to 46.4 percent of all resales in June, down from a near-record of 70 percent in June 2009. June’s foreclosure sales were the lowest since January 2008, the firm reported.”

See the full story at The Las Vegas Sun.

Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 2.4 percent in the second quarter of 2010,  according to the “advance” estimate released by the Bureau of Economic Analysis.  In the first quarter, real GDP increased 3.7 percent.

The increase in real GDP in the second quarter primarily reflected positive contributions from nonresidential fixed investment, exports, personal consumption expenditures, private inventory investment, federal government spending, and residential fixed investment.  Imports, which are a subtraction in the calculation of GDP, increased. Read the rest of this entry »

LAS VEGAS–(BUSINESS WIRE)–Wynn Resorts, Limited (Nasdaq: WYNN) today reported financial results for the second quarter ended June 30, 2010.

Net revenues for the second quarter of 2010 were $1.0 billion, compared to $723.3 million in the second quarter of 2009, driven by a 74.1% increase in net revenues at Wynn Macau. Adjusted property EBITDA (1) increased 46.0% to $281.4 million for the second quarter of 2010, compared to $192.7 million in the 2009 comparable period. Read the rest of this entry »

The office of Nevada Senator Harry Reid will host a home foreclosure prevention workshop in Las Vegas at the Lied Memorial Boys and Girls Club on Saturday, July 31. The workshop will be divided into two sessions, the first from 8:00am – 11:00am and the second from 1:00pm – 4:00pm. Struggling homeowners in Nevada who attend the workshop will have the opportunity to sit down with a HUD approved housing counselor and their lender to discuss the options that may be available to help avoid foreclosure.

Those interested in attending the workshop should bring the following financial documents if requesting workout assistance from their lender:

• Copies of pay stubs for the immediate past two months;
• Copies of bank statements for the immediate past two months;
• If self-employed, the most recent Profit and Loss Statement and a copy of the last full tax return with all schedules;
• Letter of explanation of the hardship they are currently experiencing.

New orders for manufactured durable goods in June decreased $2.0 billion or 1.0 percent to $190.5 billion, the U.S. Census Bureau announced today. This was the second consecutive monthly decrease and followed a 0.8 percent May decrease.  

Excluding transportation, new orders decreased 0.6 percent. Excluding defense, new orders decreased 0.7 percent. Transportation equipment, down four of the last five months, had the largest decrease, $1.1 billion or 2.4 percent to $45.9 billion. This was due to nondefense aircraft and parts, which decreased $1.8 billion.   Read the rest of this entry »