If January was any indicator, Las Vegas’ housing market should experience more of the same in 2016 compared to recent years: higher prices, fewer purchases and over-reaching sellers.
Used-home buyers continued paying bigger price tags in January, and even though sales volume rose from a year ago, it remained well below recent years’ first-month totals.
Meanwhile, homeowners kept putting more properties on the market and sought payoffs that were well above the going rate.
The median sales price of single-family homes in Southern Nevada in January was $219,000, down 0.5 percent from December but up 9.5 percent from January 2015, according to the Greater Las Vegas Association of Realtors.
Owners sold 1,879 single-family homes last month, down 4.8 percent from December but up 4.7 percent from a year earlier.
Sellers who listed their home in January sought a median $248,950, up 5.9 percent from December and 10.6 percent year-over-year.
For the rest of this story: http://vegasinc.com/business/real-estate/2016/feb/10/report-suggests-las-vegas-housing-market-will-hold
For more on Real Estate News: www.thehousingbubble2.blogspot.com
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