Las Vegas Market Watch

WONDERING HOW A RECESSION HISTORICALLY AFFECTS THE HOUSING MARKET?

By The Cheng Team At 1st Priority Realty
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If you’re wondering what a potential recession could mean for the housing market, history tells us these facts. 

In 4 of the last 6 recessions:
• Home Prices Actually Appreciated Only Falling During The Early 90s And The Housing Crash In 2008.
• Mortgage Rates, Though, Declined During Each Of The Previous Recessions.

Median Home Prices In Las Vegas, North Las Vegas and Henderson Nevada Are Decreasing. This chart represents the Las Vegas Valley not all of Clark County which includes Pahrump, Boulder City, and Mesquite.

The Median Sales Price is the price in the very middle of a data set, with exactly half of the houses priced for less and half priced for more.

The Market Average is computed by adding up the sales prices and dividing the result by the number of housing units.

Check out the Las Vegas, Henderson, and North Las Vegas available homes. There are over 7900 single family homes available.

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By The Cheng Team At 1st Priority Realty