Las Vegas 2016: Real Estate Home Prices

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Las Vegas real estate in 2015 did pretty much what a lot of people expected-it stayed relatively flat. There was not a lot of change in the Las Vegas real estate market in 2015. Even on a smaller level by looking at the city of Las Vegas, North Las Vegas, and Henderson, NV. There homes being built all over the Vegas Valley, but there was not a big increase in sales or the median home price. We are finishing this year with a median home price of around $200,000. That is still significantly lower than the peak of the real estate boom, when the Vegas Valley had a median home price of $315,000. Also, investor spending has slowed down significantly. At one point in the early part of the recession, a huge portion of the homes in Las Vegas, North Las Vegas, and Henderson, NV were being bought by investors to be turned into rental properties or flip for a fast profit. Since the local real estate market has flattened out, there are less investors purchasing single family homes in the Las Vegas area.

Las Vegas 2016 seems like it will likely be another year of stability. It doesn't appear that the real estate market is poised for any kind of big jumps or falls. Another component for the year 2016 in Las Vegas is the fact that this is an election year. Typically in election years there is less movement in the real estate market because people want to see who is going to be the next president of the United States. Elections tend to make people hesitant to purchase homes, so 2016 will likely be another year of minimal movement in the local real estate market.

Bureau of Labor Statistics
http://www.bls.gov/eag/eag.nv_lasvegas_msa.htm

Las Vegas 2016: Real Estate Home Prices
https://www.youtube.com/watch?v=gaQecf8XBgM
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