Las Vegas Housing Market Continues Positive Growth Through the End of Summer

The Las Vegas Housing Market remains on its path of consistent growth through the end of the summer, with median single-family home prices reaching $204,715 and condominium and townhomes prices growing to $108,993. The market is now at its highest point since the onset of the recession. Initial post-recession growth in Las Vegas was driven by institutional investors buying up inexpensive property with cash purchases. However, RealtyTrac is reporting that cash purchases have declined to 35% from 50% in this year alone and that the primary buyers are now local residents, and not investors. The stability of the housing market is excellent news for those who own homes in Las Vegas, as this should ease fears of another housing bubble and limit housing price swings in the future.

In addition, Freddie Mac has name Las Vegas the number one most improved housing market in the nation during 2014. The ranking was given not only for housing price increases, but unemployment reduction over the summer. This is another great sign for Las Vegas homeowners, as more jobs lead to increased demand for rental housing, and overall economic prosperity.

Click here to view the Las Vegas Housing Market Report, July 2014

Click here to view Freddie Mac's Most Improved Housing Markets

Click here to view FoxBusiness's Report on Cash Sales in Las Vegas