October 2019: Residential Real Estate

Nothing much is new in the Southern Nevada’s local housing market because the growth is slow and the prices are stable. Fewer houses are available in the market. The median housing price is a thousand dollars higher for this month. There is also a 5% year-over-year appreciation, which is good news.

According to Janet Carpenter, Greater Las Vegas Association of Realtor’s President, “3-5% appreciation year-over-year is what we want to see.” “We’re stable in a long time,” she added. GLVAR is expecting fewer homes to be sold this year compared to 2017 and 2018. After all, the market has less than 3-month’s supply of homes, which is still good as per Carpenter.