Las Vegas update- May 2016

Supply-Demand-STM

Consumer confidence is at the highest level in over a decade. Pair that with interest rates still below 4%, programs available for down payments as low as 3%, and you have an attractive market for buyers.

The chart to the left shows the impact that inventory levels have on home prices.

Homes sold in March were on the market for an average of 47 days and 42% of properties sold in less than a month.

Prices Rising

March marked the 49th consecutive month of year-over-year price gains as the median price of existing nationwide homes sold rose to $210,700 (up 5.7% from 2015).

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Info if from simplifying the market

 

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