Once again Nevada leads the nation in home price growth

Nevada real estate prices grew by 24.6% from a year earlier, during the month of April. This represents the highest growth in the US, well above the national average of 12.1%. This great news for REITs focusing in Nevada and landowners within the state.

The growth is driven by increased real estate investment purchases and the diminishing supply of vacant properties. The number of houses for sale is 14% lower than it was a year ago, a major factor driving up prices.

The resurgence of the housing market is driving economic growth, as the low supply of houses is leading home-builders to build more. This in turn is spurring job growth in construction and building supply markets. 

Prices are still well below their peak levels and predicted to continue growing at a remarkable pace.

Click here to read the full story from LVRJ