Report: Las Vegas housing market more stable, predictable

A house is shown for sale in Henderson.

Las Vegas used-home prices have been largely flat for four consecutive months, a new report shows, and sales volume is sliding.

The median sales price of single-family homes last month was $220,000, unchanged from August but up 8.6 percent from a year earlier, according to the Greater Las Vegas Association of Realtors.

Buyers picked up 2,721 single-family homes in September, down 11 percent from August but up 14.3 percent year over year.

Meanwhile, there were 8,134 single-family homes listed for sale but without offers by the end of last month, up 9.4 percent from August but down slightly — 0.8 percent — from a year ago.

The GLVAR reports data from its listing service, which largely comprises previously owned homes.

The industry group said prices were “remarkably stable” last month.

“Our local housing statistics have become pretty predictable this year and more stable than they’ve been in several years,” GLVAR President Keith Lynam said in the report. “And stable and predictable are good things for homeowners and for the local housing market. It’s certainly preferable to the real estate roller coaster ride we experienced over the past decade.”

Overall, single-family home prices have been largely the same since June, and sales totals have slid the past two months, GLVAR data show.

In August, the median price was $220,000 and owners sold 2,855 homes; in July, the median price was $218,000 and buyers picked up 3,180 homes; and in June, the median price was $220,000 and owners sold 3,056 homes.

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