Las Vegas Homes

Coldwell Banker Premier Realty

Las Vegas Monthly Market Update - June 2015


A Look into Las Vegas' Real Estate Market
Posted: June 25, 2015 by Jesse Olive

MARKET STATS
So far 2015 is looking a lot like 2014 in terms of closings. Both single family homes and condominiums are very close to 2014 levels between January and May. However, the type of buyer has been shifting with prices ratcheting higher during the past year. Investors now make up a relevant but declining share of closings and the higher prices have likely tempered some first-time buyer interest although low interest rates have been supportive of this segment. With the recent volatility in mortgage rates and the Federal Reserve jawboning about a possible interest rate hike in 2015, the low rate headwind many buyers have come to expect may not last forever. Some of the more marginal buyers may be headed for a disadvantage. Although not all Fed observers believe they will increase rates, the recent national jobs data seems to favor the idea of a rate increase, if even a moderate one. Still, the picture remains murky with a Fed board that is not aggressive. 


After a strong bump in prices between March and April, pricing pressure took a breath and essentially traded sideways. We prefer a more settled market with gradual shifts in pricing at levels that reflect the underlying fundamentals in the job market and household incomes. With job growth maintaining an upward trend, this instills some level of comfort that prices have not escalated beyond what the majority of buyers can afford.
SINGLE FAMILY
CONDOMINIUM/TOWNHOME
RENT OR BUY...THAT IS THE QUESTION?

The choice between buying a home and renting one is among the biggest financial decisions that most adults will ever make. But the costs of buying are more varied and complicated than for renting. These confusing details make it hard to decide. Check out this latest blog with three tips on deciding when to buy!

SINGLE FAMILY
DAYS ON MARKET
AVERAGE & MEDIAN (3 MONTH MOVING AVERAGE)
CONDO | TOWNHOME
DAYS ON MARKET
AVERAGE & MEDIAN (3 MONTH MOVING AVERAGE)
SINGLE FAMILY
SALE PRICE
AVERAGE & MEDIAN
CONDO | TOWNHOME
SALE PRICE
AVERAGE & MEDIAN
SINGE FAMILY
AVAILABLE & CLOSED
INVENTORY
CONDO | TOWNHOME
AVAILABLE & CLOSED
INVENTORY

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