Vegas Housing Market Update

The Las Vegas housing market has been on a roller coaster ride for the past several years. With the economic downturn, the market saw a dramatic decrease in home values, but since then it has been on an upward trend. The current market is showing signs of stabilization and may be poised for a strong recovery in the coming year.

The median home price in Las Vegas has risen from $180,000 in 2011 to $255,000 in 2017, an increase of over 40%. This is a significant increase from the low of $140,000 in 2009. The appreciation rate in Las Vegas is significantly higher than the national average, which is currently just over 6%.

The Las Vegas housing market is currently experiencing an influx of buyers, as the city continues to attract new residents. The population growth rate in Las Vegas has been relatively flat over the past few years, but is expected to increase in the coming year. This influx of new residents is stimulating demand for housing, which is in turn driving up home prices.

The rental market in Las Vegas is also experiencing a surge in demand. The vacancy rate in the area is currently at a low 3.5%, compared to the national average of 5.2%. This is leading to increased rental prices, as landlords seek to capitalize on the high demand.

Overall, the Las Vegas housing market is showing signs of a strong recovery. Home prices are increasing, and the rental market is also experiencing a surge in demand. If this trend continues, the market could be on the path to a full recovery in the next few years.Vegas Housing Market Update