Are you considering a move to Las Vegas, Nevada? You've come to the right place to learn about the Las Vegas housing market. Home sales in Southern Nevada have seen a slight uptick in recent months, but the overall market is still much slower than it was a year ago. Despite an increase in inventory and more options for buyers, Las Vegas is still a seller's market, with six months of inventory suggesting a balanced market. Real estate prices in Las Vegas remain high, interest rates are low, and inventory is still scarce, making it unlikely that the Las Vegas housing market will crash anytime soon.
In June, however, there was a decrease in the average sales price of single-family homes, condominiums and townhomes, and an increase in available inventory. The Las Vegas housing market continued its positive trend in April, with home prices rising for the fifth consecutive month. The average price of single-family homes reached another historic high. Las Vegas remains a strong seller's market, with six months of inventory suggesting a balanced market.
The Las Vegas real estate market continues to draw buyers from other states such as California and New York. On the construction side, builders in Southern Nevada sold fewer homes and obtained fewer permits in January than the previous year, but there were “some flashes of light that shone through the fog” reported Home Builders Research, based in Las Vegas. If you need help buying or selling a home in the Las Vegas metropolitan area, text (70) 718-3878 to speak with an experienced Las Vegas real estate agent. If you need help selling your home in Las Vegas or Henderson, call or text (70) 357-3354 for a free analysis of your home value.