Las Vegas housing market slowed, then sped up, in past year
Las Vegas’ housing market has been on a hot streak for more than a year as buyers snap up homes, prices keep reaching all-time highs, and sellers field a barrage of offers.
Well, a near-uninterrupted hot streak that is, as a report again showed this week.
The median sales price of previously owned single-family homes — the bulk of the market — was $405,000 last month, unchanged from the record high set in July but up almost 21 percent from August of last year, trade association Las Vegas Realtors reported.
Prices had been climbing continuously for months, setting records at each step. According to the association, the price streak took “a momentary pause” in August while the market “readies for its last surge before the expected holiday slowdown begins.”
It wasn’t the first time that home values flattened out since the market started accelerating last year. Las…