Double Digit Increase in Las Vegas Home Prices

Rising Home Prices

Home sellers in Las Vegas couldn’t be more pleased that there has been a double-digit increase in home prices according to the Greater Las Vegas Association of Realtors.

Las Vegas Area Home Prices Up 10.1 Percent in June

The median price for a home is now about $220,000, which is an increase of a little more than 10 percent from the previous June, which could mean consumer confidence is improving.

In addition, the number of homes sold last June was 3,700, which is a slight increase from 3,300 just a year earlier. Now, the main concern seems to be the supply of homes in the Las Vegas market.

Generally, rising prices are a positive sign, however, the number of available homes for sale is half of what it should be for a balanced market.

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