Las Vegas Real Estate Market Update 1-17-2021: DECLINING INVENTORY

A mid-January Las Vegas real estate market update as we see home inventory falling to new lows, but home prices are only increasing at a nominal rate. The real estate market seems to have not been hit by Covid-19 as hard as other markets like San Francisco and the Bay Area housing markets since we still have a strong rental market and declining inventory.

Today’s update we track 3 major indicators: Median Home Prices, Days on the Market and Number of Listings on the market. Historically these are very low numbers for both # of listings and days on market, and home prices are the highest they have been, not adjusted for inflation. Adjusted for inflation we’d have to go over $400k for a single family home for them to exceed 2006 before the Las Vegas real estate market crashed.

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