Ep# 30 French Workbench- Housing Market Inventory Is About To Get Better. How About Vegas?

Las Vegas Real Estate Market: Prices | Trends | Forecast 2021 Las Vegas Real Estate Market The Las Vegas housing market is scorching. Home sales are up from last year, and prices are setting new highs. Inventory is decreasing month after month and cannot keep up with demand. People continue to flock to Las Vegas from higher-priced areas, particularly Southern California, putting pressure on housing demand. According to industry experts, this trend has accelerated during the pandemic, with home sales in the area reaching their highest level in 14 years. In Southern Nevada, median resale prices of single-family homes are reaching new all-time highs almost every month, buyers have flooded properties with offers, inventory is limited, and builders have raised prices and put buyers on waiting lists on a regular basis. The median sales price of previously owned single-family homes, went from $375,000 in April to $385,000 in May, which is up 2.7% from last month and up 22.2% from the prior year. The rental prices in Las Vegas are also increasing. Despite the high unemployment rate, rental vacancies have been trending downward to record-low rates. This shows a growing demand for rentals in the area and a positive sign for real estate investors in the area. The average rent for a 1-bedroom apartment in Las Vegas, NV is currently $1,100. This is an 11% increase compared to the previous year. The avg. rent of studio apartments is $1000, a 13% increase from last year. A those who can afford Las Vegas investment properties, this guarantees a large rental population that isn't going to be able to afford the new upscale properties that are coming onto the market. As of June 26, 2021, the average rent for a 1-bedroom apartment in Las Vegas, NV is currently $1,100. This is a 11% increase compared to the previous year. Over the past month, the average rent for a studio apartment in Las Vegas increased by 1% to $1,000. The average rent for a 1-bedroom apartment increased by 5% to $1,100, and the average rent for a 2-bedroom