The Southern Nevada economy continues to expand, and the population base has responded accordingly. An influx of new residents has helped bolster demand in the housing market.
With strengthening conditions experienced throughout 2017 expected to continue, similar housing supply-demand dynamics are likely to follow.
In October 2017, single family prices jumped 13.4 percent compared to last year, and the number of closings were also up 13.4 percent from 12 months ago.
Effective availability fell to 1.7 months (down 40.5 percent).
The number of notices of default spiked in October as regulatory and filing fee changes adjusted, but the impacts of foreclosure activity overall appears to be an issue of the past.
Resale market information in this publication is sourced to the Greater Las Vegas Association of Realtors® based on transactions reported in the Multiple Listing Service (MLS).
Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052
With over 30 years of experience helping families call Las Vegas "home!"
Related Blog Posts
It's disheartening when a house appraisal comes back lower than the purchase price you and the seller agreed on. Your loan will cover only the appraised value of the home, so having to cover tens of thousands of dollars more than you anticipated could throw a serious wrench in the plan. Here's w...
The very first appointment I had was with an extremely difficult client who was convinced his condo was just going to continue to be a money pit for him and his family. He admitted that most of the time he hung up on or cussed out every agent that called him because he truly didn't think anyone was actually out to help...
As I'm sure you know, there are way more than 4 activities that you should or should not do in order to improve your credit, but these 4 in particular seem to trip a lot of clients up and have even been known to ruin the the loan even after an initial approval. So make sure that you stay on the straight and narrow by...
SELLING A HOME IS HARD WORK! Most homeowners would probably prefer to have a professional licensed Realtor work on their behalf to sell their home, but not everyone sees the value of paying a fee for an agent’s expertise. I get it — it is not easy to recognize all the work it takes to prepare...
August 2017 Single Family Residential (SFR) closed sales were up 4.2% from July and 5.1% better than August 2016. Year to date 2017 closed sales are now up 10% over 2016. The median closed sales price of a SFR remained flat at $260,000 while the average closed sales price of an SFR dipped t...