Las Vegas SFR median 300k for Sep'18

[Terry Lao]

The September 2018 SFR median home price come out and it is 300k, up from 295k previous month August. The important number to look at is year over year increase of 13.2%. Even small increases for the remainder of the year, would put Dec'18 at 14.2%, which will be the highest percentage increase for #1 city in nation.

Terrence

Below is my forecast for remainder of year.

[Terry Lao]

Realtor.com forecast in Dec'17 that inventory would rise in mid year 2018. A bit late, but forecast held true. Now that said, inventory still 2-3 months supply, with 6 months being a balanced market. It's still a sellers market but might take longer to sell, or some sellers need to take discount in price. 

I would say it all dependent on economy and jobs. If no jobs or economy takes a hit, then buyers will disappear. 

Terry

@Phillip Dwyer

@Brandon Carriere