Buying A House In | Las Vegas 2017

: The "effective availability" for homes sat at a tight 1.8 months , while the condo/townhouse market was even more constrained at 1.1 months . For context, a six-month supply is typically considered a "balanced" market. Driving Factors Several economic conditions fueled this "hot" market:

: Job growth and diversification in the valley strengthened buyer confidence, leading Realtor.com to rank Las Vegas as one of the "hottest" markets of the year. buying a house in las vegas 2017

For those looking to compare this historical data with current conditions, detailed monthly reports and historical trends are available through Las Vegas Realtors or tracking tools like the S&P CoreLogic Case-Shiller Index . : The "effective availability" for homes sat at a tight 1

: The median sales price for single-family homes reached approximately $260,000 by mid-year , a 10.2% increase from the previous year. By March 2017, the median resale price had already hit $242,000. For those looking to compare this historical data

: Builders in Clark County saw a banner year, with 5,762 new-home sales closed through August, an 18.8% increase over the same period in 2016. The median price for new homes reached $342,973 by late summer. Inventory Challenges

: Mortgage rates remained relatively low, providing "cheap borrowing costs" that allowed buyers to manage rising prices.