LAS VEGAS (KLAS) — Home prices went up in July, rising a little more than $9,000 in a month to hit $450,000, according to Las Vegas Realtors (LVR). With single-family homes going in one direction (up 2.0%) and condos/townhomes the other (-0.5%), there are mixed signals this month. In Las Vegas, sales were down 1.2% compared to July 2022. While the median price of single-family homes is still $32,000 below the peak of $482,000 in May of 2022, this month’s $9,000 jump indicates there’s still high demand for a relatively low number of available homes. That suggests that investors have been less active in the Las Vegas housing market.

Source: Forbes August 08, 2023 12:18 UTC