Lied institute for Real Estate Studies releases July 2019 Nevada Housing Market Update

Aug. 27, 2019

Every month the Lied Institute for Real Estate Studies publishes a statewide report on the housing market. Here are some of the key takeaways from the July 2019 report:

  • The housing market in Las Vegas has slowed down a bit, although mortgage rates are at record low levels
  • Existing home price growth has slowed down, and year-over-year price appreciation is now at 4.79% with the average price of a single-family home at $350,000
  • Average days on the market for single-family homes has gone up by almost 20% to 77 days
  • Loan-to-value (LTV), a measure of risk in the market, is currently at 87%
  • New home price still growing at double-digits (16.6%)  with the average new home price now crossing the half a million mark at $517,000
  • Similar pricing trends can be seen in Washoe County. LTV measure is relatively lower at 80%

Find the complete report here.