Move Out of the Way Seattle, Las Vegas is Now the Hottest Real Estate Market in U.S.

After a long awaited two years, nestled just below Seattle, battling for the top position in the United States real estate market, Las Vegas finally gets their turn in the spotlight. Officially being called the “Hottest Real Estate Market in the Country” by Builder Magazine, the ongoing record low inventory levels combined with larger commercial projects the ranking comes as no surprise. Currently, finding homes under $300,000 is nearly impossible, and those lucky enough to own a property in that price range are seeing record increases in monthly home valuations.

Fastest Rising Housing Prices

1. Las Vegas +13 percent
2. Seattle +12.8 percent
3. San Francisco +10.7 percent
4. Denver +8.3 percent
5. Los Angeles +7.4 percent

Source: Case-Shiller home price index

The index is based on a three month rolling average, and with recent King County price drops and inventory increases, there’s potential that the 21 month champion won’t rise again soon. At the same time the Las Vegas market saw an increase from 12.6 percent to 13 percent, allowing them to overcome the giant. As any real estate agent in Las Vegas can tell you, inventory seems to be tighter than ever, and houses are rising more than the mortgage payments monthly in some areas. And with mega projects involving major sports teams, casinos, and commerce all across the valley, there’s potential that it continues to climb even higher in the next reports.

Buy or Sell Your Home With the Windermere Team

Speak Your Mind

*

2 × 2 =

Copyright © 2018 by Windermere Services Company. Develop By Hunter Marketing Group