Equity Growth Map by Zip Code - How did you do?

Last week the Las Vegas Review Journal had this Map on the front page.

This is always a fun one to look at.

But again, review with caution.

One or two Million dollar homes or a few Distressed Foreclosures can skew these numbers.

 It's better to look at the Valley as a whole. And generally speaking...

Las Vegas Metropolitan Area had a very good year of Equity Growth.

From 2012 -2013 we had close to 30% growth.

from 2013 -2014 it looks like close to 20% growth.

And my guess for this year is a more modest 10% Growth.

Off to a Slow Start... For how long?

  The New Year usually starts with a Surge of New Sales.

Not this year, even with the crazy low Interest Rates.

For Sellers, you might need to settle for your current level of Equity.

Buyers, Inventory is growing, Interest Rates are Low

and Prices aren't going up yet...

Las Vegas 

 

Henderson

N Las Vegas

Two Sides of the Same Coin...

Earlier this week Keith Lynam, the President of the GLVAR

The governing body over our local Realtor Association.

Gave a speech and then two different reporters used the same quote.

“January is typically a time when we see local home prices and sales slow down, so this month’s statistics are no surprise,” association President Keith Lynam said. “What’s more relevant to us is how we’re doing compared to the same time a year ago. Compared to last year, home prices are still rising, just at a more gradual pace than they did in the past few years.”

Below are the two Headlines and articles they wrote.

Is it any wonder why people don't have a good understanding of what is actually happening 

with our Real Estate Market.  Or any other issue the media "reports" on...

2015 Predictions - Opinions are like...

 Opinions are like Belly Buttons...

Everybody's got one!

But this guy is Paid to have His!

NAR Chief Economist Lawrence Yun makes a few predictions about 

The 2015 National Housing Market.  see Video Below.

It all sounds good to me. A Nice Steady Growth / Recovery.

note... 37% Increase in New Home Sales may seem like a Huge number.

It means if we had 100,000 New Homes built in 2014, he's predicting 137,000.

Las Vegas and Nevada are #1 in Home Value Appreciation

Freddie Mac and S & P / Case-Shiller are two of the biggest 

resources of information for us as Realtors.

Below you can see Freddie Macs National Appreciation by State 

and 30 year History of Mortgage Interest Rates.

S & P / Case-Shiller's The Top 20 Cities Appreciation over the past 3 Years.

Las Vegas and Nevada are back on top.

For many this is a Flashback to the beginning of the Housing Bubble Crisis of 10 years ago.

For us it's a rapid and needed recovery.

2015...Hopefully more of the same as last year

 

 Looking back at 2015 we had a very good year. 

Below you can see the rising price trends for Las Vegas, Henderson and NLV.

Home Prices in Henderson and NLV are still moving upward.

Las Vegas dipped down at the End of 2014

If you look at the End of Year for 2013 and 2012 you will also see a similar seasonal drop.

Looking ahead...
With Prices Stabilizing, Unemployment Dropping, Interest Rates hitting new lows...

This is a good recipe for another strong year for Vegas Home Values.

 

^^^   Las Vegas   ^^^

 

^^^   Henderson   ^^^

 

^^^   North Las Vegas   ^^^

 

Click on Image below for the Complete Report

UNLV's Nevada Housing Report - A Good Sign of Good Times...

UNLV and State of Nevada put out a Quarterly Report 

on Nevada's Housing Market.

below are the Clark County Statistics

Click HERE for the entire 23 page report.

Highlights...

New Home Sales are High but Construction Starts are decreasing.

Home Prices have Risen nicely over the past 3 years and are leveling off.

Foreclosure, Notice of Defaults and Short Sales have decreased drastically.

In General, Good signs of a healthy and improving Housing Market.