US home prices rising faster than in Las Vegas, new report says
Home prices are rising faster nationally than in Las Vegas, but wages have inched higher locally and outpaced a slight U.S. dip.
The median sales price of Clark County homes this quarter is $210,000, up 8 percent from the same period last year. Nationally, the median is $230,000, up 10 percent from a year ago, according to a new report from RealtyTrac parent Attom Data Solutions.
The average weekly wage in Clark County during the first quarter was $866, up 2 percent, or $13, from the same period in 2015. The average weekly wage nationally was $1,043, down 0.5 percent, or $5, year-over-year.
Overall, however, Las Vegas-area buyers must spend an average 35.1 percent of their wages for a home. Nationally, buyers have to spend an average 32.8 percent, Attom reported.
The company said it compiled the report using publicly recorded property records and data from the U.S. Bureau of Labor Statistics.