Another month, another rise in Las Vegas home values

Las Vegas Valley home values kept soaring last month, far outpacing most of the country.

The region’s median home value was $151,600 in July, up 31 percent from a year earlier, according to a new report from Seattle-based housing data firm Zillow.

Las Vegas’ year-to-year growth rate was second-fastest among the 30 markets tracked in the report. Sacramento was first at 33 percent.

Nationally, home values rose 6 percent over the past year, to $161,600.

The market is expected to cool off in the coming year but remain strong. By July 2014, home values are forecasted to rise 11 percent locally and 5 percent nationally, Zillow said.

Las Vegas’ market has been fueled in large part by cash investors who, capitalizing on the housing bust, buy cheap homes in bulk to turn into rentals.

Advertisements

About Sherman Group Las Vegas Real Estate

Contact me for your Las Vegas Real Estate questions 702.880.7480 SFR- Short Sales and Foreclosures Resource at Realty Executives CSP- Certifies Short Sale Professional at Realty Executives Director of Education, Manager of the Foreclosure Center and Short Sale Division at Realty Executives of Nevada
This entry was posted in Las Vegas Real Estate. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s