Get free access to our world class MLS search tools, save your favorite listings, create saved searches & much more!

The New Gold Standard: 10 U.S. Housing Markets That Will Rule 2018 -- Las Vegas is #1

Posted by Mastura Zaini-Roberts on Monday, December 11th, 2017 at 2:07pm.

What are the hot markets where you can still afford to buy?
Which are ones where home prices are almost certain to appreciate?
Which ones have burgeoning economies and lots of job growth?
Which are the ones where you actually want to live?

To determine our predictions for the best real estate markets of 2018, realtor.com's® economic data team took a look at the number of sales of existing homes and their prices, along with the amount of new home construction in the 100 largest markets. We also analyzed the local economies of each area, along with population trends, unemployment rates, median household incomes, and other factors.

"People are going to continue to seek out pockets of affordability that remain in the market," says Danielle Hale, chief economist of realtor.com. "A lot of these places are more affordable than surrounding areas, yet still have strong economies. Even though prices are expected to grow, most of these markets will still remain relatively affordable in 2018.”


So which will be the hottest markets in 2018? Be prepared for some surprises.

Top 10 Housing Markets for 2018
Top 10 Housing Markets for 2018 *  Tony Frenzel

#1. Las Vegas, NV

Median home price: $285,045
Predicted sales growth: 4.9%
Predicted price growth: 6.9%

Residential Las Vegas neighborhood in view of the Strip
Residential Las Vegas neighborhood in view of the Strip  *  trekandshoot/iStock


The future of Las Vegas is eye-searingly bright—and it's not just because of all those lights on the Strip.

The economy of the once-downtrodden Sin City is expected to grow about 8.7% in 2018—compared with 6.4% for the rest of the top 100 markets, according to realtor.com. That means a lot of people moving in, moving up, and looking for places to live.

Things weren't always so rosy. Vegas was devastated by the financial crisis of the late 2000s and the wave of foreclosures that followed.

"We like to say we were ground zero for the Great Recession: We fell further than many other metros," says Stephen Miller, director of the Center for Business and Economic Research at the University of Nevada, Las Vegas. "So we had more ground to cover to catch up.”

One of the things drawing folks to settle down and stay in Vegas, long after their 72-hour bender has become a distant memory, is the city's still striking affordability.

"Our [home] prices are lower than nearly every major Western metro area," Miller says. "People in California are retiring and selling their houses and moving [in]. ... They want a lower cost of living."

With the influx of new residents and the return of buyers who lost their homes to foreclosures, well-priced homes in good neighborhoods are practically flying off the market, says local real estate broker Bryan Kyle of First Serve Realty. Low interest rates are also luring more buyers.

"What keeps this market as hot as it is right now is the lack of inventory," Kyle says. Those shortages may be exacerbated by still-underwater homeowners reluctant to plant a For Sale sign in their yard until their equity recovers. But there are fewer of those properties today as prices continue to nudge up.

 

 | Dec 4, 2017

https://www.realtor.com/news/trends/top-housing-markets-of-2018/

Mastura Roberts
(702) 919-5400
offers@greatlasvegashomes.com

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

High Rise Living In Las Vegas

Based on real estate experts that Las Vegas High Rise condos market is going to explode. The most important thing before purchasing a Las Vegas high rise condo is to hire a realtor who has the expertise to assist you with your purchase process. Las Vegas offers a wide range of high-rise condo living. For...

Is B of A Finally "Getting It" on Short Sales?

Yes, it actually DOES look like Bank of America is finally getting their act together in the Las Vegas real estate market on short sales! We have seen a marked improvement in service and approval times over the past six months, and just recently B of A has rolled out two new changes to improve their image.The first big...

New Listing - 2312 Janesville Lane - Henderson Home for Sale

Highly upgraded Trenton model with Casita.  Beautiful must see Henderson home. Crown Molding! Tile Floors in all rooms except Master Bed, Office and 2nd Bedroom. Casita contains bedroom #3, separate from the home in Courtyard, tile floors, private bath, and walk-in closet. 2nd bedroom has own private bath and do...

Take a Virtual Tour of 3481 South Oakleaf Street

This beautiful home is located in Pahrump...  a short drive from Las Vegas.  "Spectacular Mountain View" Corner 1.11 Acre lot with an extraordinary Mt. Charleston view. The corner lot is fenced and has 3 gates.  Take a virtual tour of this beautiful property.   Learn More About This...

Client Success Story - The Pendleton Family

When Linda and Todd Pendleton heard that their friends, Margie and Bill Frederick were thinking of selling their townhome in Sun City Summerlin, Linda suggested that they meet with me. They claimed to already have two agents in mind for the job. Reluctantly they met with me last Wednesday. After showing them what I and...

1 Response to "The New Gold Standard: 10 U.S. Housing Markets That Will Rule 2018 -- Las Vegas is #1 "

Marcell Appelgren wrote: Awesome Stuff!! Looking Forward to A Big Year ... GreatLasVegasHomes !!!!!

Posted on Tuesday, December 12th, 2017 at 8:17am.

Leave a Comment

Have a Question?

Contact Us

Follow Us