Local News


Report: Las Vegas housing market still rebounding from recession

Posted at 5:36 PM, Jan 24, 2018

Home values continue to rise in the Las Vegas valley, but a new report says Las Vegas still hasn't fully recovered from the recession.  

The Las Vegas housing market was hit especially hard during the recession, with homes losing about 62% in value.  

According to Zillow, a typical home valued at $300,000, was worth less than half of that after the recession, at $114,000.  Now, that same home is worth about $243,000.  That's much higher than several years ago, but still now what home prices could be.  However, many people believe prices before the recession may have been inflated.  

This means speed is the name of the game if you're in the market to buy a home, because home prices still have plenty of room to continue increasing.   

Experts have told 13 Action News, the Raiders and the Vegas Golden Knights are helping to boost home prices, which will continue to increase because of professional sports teams.