LAS VEGAS HOME PRICES INCREASING
Las Vegas home prices are increasing as the inventory decreases. Fitch Ratings reported that the increase prices are not sustainable. Fitch measured a 15% increase that may indicate over pricing is occurring.
The consensus in 2013 rang similar cautious remarks when the values increased by 30% year over year. Las Vegas was the #1 foreclosure city so caution is inevitable as prices increase. In 2013 investors bought undervalued homes and turned them into rentals. As soon as the investors stopped buying in bulk, the pace of prices increasing slowed down.
Las Vegas home values are up 10 percent from a year ago, the third-fastest rate among large metro areas, according to listing service Zillow. Check the value of your home here: CLICK HERE
One in every 191 homes in the Las Vegas area was hit with a foreclosure-related filing in the first half of this year, down 30% from the same period in 2016, according to housing tracking Attom Data Solutions.
Attom tracks default notices, scheduled auctions and bank repossessions for the report. Available foreclosures are listed here: CLICK HERE
FOREIGN INVESTORS HIT BUYING RECORD ACROSS THE COUNTRY
Foreign investment in U.S. housing has reached record levels.
The National Association of Realtors reported this week that foreign buyers and recent immigrants bought a record $153 billion worth of residential real estate between April 2016 and March 2017, up 49 percent from a year earlier.
The buyers picked up 284,455 properties, up 32 percent.
Buyers from China snagged the most properties – about 40,600 – followed by those from Canada (33,800) and Mexico (28,500).
Search All Available Las Vegas Home With Photos and Details: CLICK HERE