Housing Market Dispute
Forbes and local analysts in Las Vegas may be lining up to disagree over the housing market in the Las Vegas area. Builder Online is reporting that Forbes dropped Las Vegas from the 18th-most overvalued housing market in the nation to 28th.
Median new home prices increased 12.5 percent in March to an all- time high of $320,379. Resale prices, which Forbes had predicted would drop 8.5 percent this year, are up 8.3 percent from last March at $284,900, though they’ve remained relatively flat over the past nine months.
Sales of new homes are ahead of last year by nearly 20 percent through the first three months and are on pace for a record 40,000. Existing home closings are about the same.
This information brought to you by Homes in the Las Vegas valley and surrounding areas.
