Las Vegas home prices are rising at one of the fastest rates in the country, availability has plunged, and homebuilders are fetching record prices. Applied Analysis co-owner Brian Gordon speaks about this and more, including which parts of the valley have the fastest-rising and overall highest prices, and the housing market’s strengths and weaknesses.
Las Vegas home prices are rising at one of the fastest rates nationally, and builders are selling the most homes in years. But by almost any measure, the market remains a long way from the peaks of the bubble years last decade. The median sales price of previously owned single-family homes was $280,000 last month. That’s more than doubled since hitting bottom, but still below the peak of $315,000 in mid-2006. Builders sold 9,400 homes last year, the highest tally in almost a decade but far below the record of almost 39,000 in 2005. “Las Vegas has been climbing out of the hole for the better part of the last decade.” Brian Gordon, co-owner, Las Vegas-based Applied Analysis
