Ep #64 - Rising Home Prices are Fueling the Private-label Market

Southern Nevada house prices ticked higher last month to a record level as an industry group said the market is “starting to stabilize” after a prolonged acceleration. The median sales price of previously owned single-family homes — the bulk of the market — was a record $406,500 in September, up 0.4 percent from August and 20.5 percent from September of last year, according to a new report from trade association Las Vegas Realtors. Buyers scooped up 3,209 houses last month, virtually unchanged from August but down 1.9 percent from September 2020. Meanwhile, Las Vegas’ tally of available homes for sale climbed last month but remained far below year-ago levels. The association reported that 3,463 single-family houses were on the market without offers at the end of September, up 6.4 percent from August but down 27.8 percent year over year. The housing group reports data from its resale-heavy listing service. Despite big job losses sparked by the coronavirus pandemic, Southern Nevada’s housing market has accelerated over the past year or so with rapid sales and record-high prices, thanks largely to rock-bottom mortgage rates that have let buyers stretch their budgets. ________________________ DAN FRENCH Realtor | Key Realty LLC License # S.0193843 702-557-6176 https://www.lvhomeprofessionals.com Follow Us on Social Media! Instagram: https://www.instagram.com/danfrenchlv/ Facebook: https://www.facebook.com/TheMarketSna... Twitter: https://twitter.com/AskDanFrench ________________________ 🏡 FIND YOUR NEW HOME HERE! NEW HOMES FOR SALE North LAS VEGAS: https://myre.io/0qkKcAodVBBg NEW HOMES FOR SALE HENDERSON: https://myre.io/0jbpj9LBPLy NEW HOMES FOR SALE SUMMERLIN: https://myre.io/0YRnC8BAPXrl NEW HOMES FOR SALE LAS VEGAS: https://myre.io/0CMoiL45F7lt 🏠 RESALE HOMES: RESALE HOMES FOR SALE SUMMERLIN: https://myre.io/0UTj2QDZQr4t RESALE HOMES FOR SALE HENDERSON: https://myre.io/0EpPM9PibuBl RESALE HOMES FOR SALE LAS VEGAS: https://myre