Las Vegas housing market 2015 should not experience the double digit appreciation of past years
Greater Las Vegas housing market for 2015 will not see double digit appreciation because the market has been flat for the last 6 months of 2014.
Greater Las Vegas Association of Realtors press release dated January, 8th 2015 puts Las Vegas, Henderson and North Las Vegas single family homes median price appreciation rate at 10.1% which we agree with, yet the appreciation rate for the last 6 months has been at 2%.
They also announced that the median price for Las Vegas metro condos and town-homes appreciated by 9.4% which is WRONG. Las Vegas condos and townhomes appreciation has been much less. The reason is that GLVAR mixes regular condos and luxury high rise condos in their Las Vegas real estate market reports and then announces a median price for all. We have explained this in detail in significant errors in GLVAR market reports.
The numbers of Las Vegas short sales along with foreclosures keep shrinking and no longer have a significant negative effect on the housing market. Please see this video for a detailed discussion.
In this video, we have explained which factors will influence the Las Vegas housing market and why we think that the housing market will not see double digit appreciation. This provides for the best last chance to buy or invest in Greater Las Vegas homes, condos or townhomes for sale before prices seriously escalate in late 2016 and subsequent years.
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