The Hottest Real Estate Markets of 2017: Who Gained, Who Fell
: A continued influx of new residents, particularly from California , drove sustained demand.
The primary challenge for buyers in 2017 was a severe lack of choices: buying a house in las vegas 2017
: 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.
Throughout 2017, home prices in Southern Nevada experienced a steady upward climb: The Hottest Real Estate Markets of 2017: Who
: Availability tumbled throughout the year. By December, there were only 3,827 single-family homes on the market without offers—a 35.7% drop compared to December 2016.
: 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: By December, there were only 3,827 single-family homes
The year 2017 was a significant turning point for the Las Vegas housing market, marked by surging demand and a tightening supply that favored sellers. By the end of the year, it was recognized as one of the best years for home sales in the city's history, despite a notable plunge in available inventory.