The Las Vegas residential market continues to move in a positive direction despite economic weakness. Low-interest rates, stimulus, and a lack of supply are helping to prop up prices.
Las Vegas House Prices November 2019
Las Vegas house prices flat in November, up 4.1% from ‘18
Las Vegas house prices were flat last month compared to October as sales and price growth remained below 2018 levels.
The median sales price of previously owned single-family homes – the bulk of Southern Nevada’s market – was $307,000 in November, unchanged from
October but up 4.1 percent from November 2018, according to a new report from the Greater Las Vegas Association of Realtors.
Buyers picked up 2,407 houses last month, down 17 percent from October but up 5 percent from a year ago, the GLVAR reported.
The trade group pulls data from its resale-heavy listing service.
Las Vegas’ housing market has cooled off this year after a heated run sparked affordability concerns.
GLVAR President Janet Carpenter, of Signature Real Estate Group, said in a statement that prices have been rising “gradually” compared to the
past several years, sales totals are “slightly behind” last year’s pace, and homes are staying on the market “a little longer” this year.
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