In The News: Lied Center for Real Estate
With a stuffed plastic garbage bag slung over his shoulder, the curly-haired Santa Claus delivered presents a day ahead of schedule at various Siegel Suites apartment complexes in the Las Vegas Valley on Monday.
New data published by the Greater Las Vegas Association of Realtors shows 10,000 single-family homes were on the market and by the end of November, 7,000 of those homes had zero offers, up 54% compared to 2017 and the highest number of homes in Las Vegas Valley to not get a bid in more than two years.
The national housing slowdown is spreading to markets like Las Vegas and Phoenix, where prices still haven’t reclaimed their pre-crisis peaks.
The Las Vegas metropolitan area has seen not only a significant rise in its population but an altering of its demographics as well, according to new findings from the U.S. Census Bureau.
Real estate experts have marked a significant change in the economy and housing prices in Las Vegas during the last couple of months. 2018 has brought many changes to the Las Vegas real estate market, with prices rising rapidly and the number of available properties dropping just as quickly. However, it is certain that the city of Las Vegas is booming once again after the massive market crash in 2008. According to Nevada Current and the statistics from August 2018, the average price of a single-family home in the area of Southern Nevada equaled to $295,000. This shows how the prices have increased significantly since 2012 when the same properties were available for $118,000. However, even today's average is still below the all-time high, which was $315,000, back in June 2006.
Home prices in the majority of metro areas across the country — places such as Nashville, Los Angeles, Austin and Indianapolis — have eclipsed their pre-recession peak.
Las Vegas is having a tough time living down its sordid past. Not that sordid past. It’s our reputation as Ground Zero in the foreclosure crisis a decade ago that has Southern Nevada in the news now.
In case there was any doubt, it’s back.
The real estate market in the Las Vegas Valley has seen explosive growth the past two years, creeping toward its pre-recession boom from 2005 to 2007, according to Las Vegas housing experts and real estate agents in the valley.
A Fitch Ratings report published by Forbes designating Las Vegas as the most overvalued real estate market in the nation has homeowners who survived the foreclosure crisis jittery and real estate agents angry. But experts say contrary to increasingly frequent warnings from Fitch and others, Las Vegas is not in danger of suffering another housing bubble. We’re just coming up from underwater.
A Fitch Ratings report published by Forbes designating Las Vegas as the most overvalued real estate market in the nation has homeowners who survived the foreclosure crisis jittery and real estate agents angry. But experts say contrary to increasingly frequent warnings from Fitch and others, Las Vegas is not in danger of suffering another housing bubble. We’re just coming up from underwater.
Jacenta Harris brought her two youngest children to Las Vegas to start a new life.
Jacenta Harris brought her two youngest children to Las Vegas to start a new life. Then came the eviction notice.