December 2019 SFR closings were up 7.95% from November and up 21.14% up from December 2018. The overall residential resale market (including residential, high rise, and multi-family sales) saw just over 42,000 resales closings for the year. Overall 2019 market appreciation for Single Family Residential (SFR) homes was held to 5.5% over that of 2018. So – despite a difficult start and challenges with lending, appraisals and potential affordability issues, the Las Vegas real estate market has rebounded quite nicely with some momentum to take us into 2020.
SFR inventory decreased to 2.3 months overall despite the increase in closings – primarily due to the lack of listings taken the last two months of the year. Only 2,646 residential listings