Las Vegas Housing Marketing on the Rebound

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The Las Vegas real estate market is showing signs of recovery as the median price of single family homes in the area went up to $200,000 in July. This shows a 69 percent increase from the median price in the summer of 2012 that hit $118,000.

According to realtors, now is also a better time to sell properties since the market is moving towards the right direction.

“We certainly have more builders (who) are building our new home communities, because demand has increased,” said Greater Las Vegas Association of Realtors (GLVAR) president Heidi Kasama. “So, people feel comfortable in their jobs. They’re feeling stable. They’re going out and buying homes.”

The growth in consumer confidence entails new projects such as the Boulevard Mall expansion, opening of new shops and restaurants in the District at Green Valley, and the Downtown Summerlin project set to open in October.

This means there will be new jobs available for residents which will aid in the further recovery of the market.

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