Las Vegas Home Prices are Headed for Potential New Peak in 2018
Las Vegas home prices could be approaching a new peak this year, according to a recent report. Like many of the top housing markets in the U.S., Las Vegas home prices have been growing considerably.
A new report states that Southern Nevada home prices are approaching record levels. With high demand and inventory issues, home prices could jump even higher.
"The average price for existing single-family homes sold in May was $295,000, an increase of 2.5% from April and 18% from May 2017," according to National Mortgage News.
"In June 2006, the median price of existing homes topped out at $315,000, according to the group. It reports the average decreased to $118,000 in 2012 during the recession."
Local realtor and President of the Greater Las Vegas Association of Realtors, Chris Bishop also chalked up most of the gains to a budding local economy and a growing job market, according to the report.
To learn more about the Las Vegas home price growth and its potential to reach a record peak in 2018, click on the image above.
