This series of small exhibits illustrates Las Vegas home prices using the repeat sale index from S&P Down Jones Case-Shiller. We examine some of the causal components which may have altered the price path at different times. note that in the year-over-year exhibit, the rate of price growth slowed in 2015 and flat prices are largely persistent today. Not all homes would have this same trajectory and price can vary substantially by highly localized supply and demand factors. For an estimate of what a specifi... read more

Despite have a relatively low level of available supply, which in now less than three months, we are observing very little price pressure outside of a few key areas. When price does not rise against this low level of supply, it indicates that demand is moderate. However, homes that are priced close to the neighborhood comps and are getting offers, it's just not the furious level of activity we experienced over a much of the recovery. While home prices have trended sideways, underlying fundamentals in the regio... read more

The Las Vegas area experienced a wave of investor activity in the 2010 - 2014 years, normalizing greatly in 2015 as traditional buyers grew in share of overall sales. At the peak of investor activity, nearly half of all single family closings within the multiple listing service utilized cash. Currently, 23.5% of single family sales closed with cash, many of these investors. So while investor activity has clearly dwindled from just three years ago, there remains a lingering interest in single family homes as an inve... read more