Las Vegas, NV (KXNT) - While it’s too early to say the Las Vegas housing market is cooling off, the average price of a home in the valley was unchanged for the 2nd month in a row.
New figures released this week by Las Vegas Realtors shows that the average price of a previously owned single-family home was at 345,000 in January, the same as in November and December, but a 13% increase over January of 2020.
Similar factors are at play to keep the average price high: low supply, strong demand and a low mortgage interest rates for borrowers. The same patterns that are driving home prices in Las Vegas are doing so nationwide, as well.