December 2018 Las Vegas Home Prices Hit Plateau
Las Vegas home prices remained steady in December 2018 according to a recent report. The median-price of single-family homes increased by a minimal $250, marking a plateau point for the Las Vegas housing market.
"Increasing at a rate of about $5,000 per month from December 2017 to May 2018, median housing rates have essentially flattened since then, said GLVAR President Janet Carpenter," according to National Mortgage News.
"For the time being, the record-high median price of $315,000 reached in June 2006 does not seem to be in jeopardy, Carpenter said."
Carpenter also told NMN that this sort of slowdown is normal for the end of the year. The report stated that Southern Nevada has a three-month supply of existing homes for sale on the market. This number hasn't changed from November of 2018.
"GLVAR reported 6,615 single-family homes listed for sale at the end of December without any sort of offer. That's up 72.9% from 12 months ago," according to the report.
To learn more about the current state of Las Vegas home prices, click on the image above.