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There are a lot of positives in Las Vegas, where July sales of single-family homes and condos were the highest of any July since 2005, according to MDA DataQuick. Single-family sales increased by 33 percent, tracking 16 consecutive months of year-over-year gains. Condo sales continued their 13-month climb with a 126-percent increase.
“The rebound is starting in the lower price ranges, which is to be expected. Homes that show well are getting multiple offers and selling quickly,” says Debbie Drummond with RE/MAX Associates.
Las Vegas is one of the four metros identified by Lawrence Yun, chief economist for the National Association of Realtors, as a place where demand for lower-priced homes has spiked.
A plus for the city is a new performing arts center and the Cleveland Clinic Lou Ruvo Center for Brain Health being developed in the downtown.
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