: The "effective availability" for homes sat at a tight 1.8 months , while the condo/townhouse market was even more constrained at 1.1 months . For context, a six-month supply is typically considered a "balanced" market. Driving Factors Several economic conditions fueled this "hot" market:
Throughout 2017, home prices in Southern Nevada experienced a steady upward climb: buying a house in las vegas 2017
The primary challenge for buyers in 2017 was a severe lack of choices: : The "effective availability" for homes sat at a tight 1
: Job growth and diversification in the valley strengthened buyer confidence, leading Realtor.com to rank Las Vegas as one of the "hottest" markets of the year. : A continued influx of new residents, particularly
: A continued influx of new residents, particularly from California , drove sustained demand.
For those looking to compare this historical data with current conditions, detailed monthly reports and historical trends are available through Las Vegas Realtors or tracking tools like the S&P CoreLogic Case-Shiller Index .