Las Vegas Inventory Finally Up, & Prices Keep Rising
June 2022 Stats Summary for Greater Las Vegas
The Las Vegas real estate market in June was truly eventful. After months of barely 30 days of inventory, new listings are on the rebound by as much as 61.5% with a 2 month supply. In the midst of this, average home prices are still soaring, up 19%!
June 2022 has proved a challenging time for buyers and sellers, inflation levels have reached over 34%, as a result, the Federal Reserve raised interest rates by three quarters of a percentage point in June, the largest interest rate hike since 1994. Higher real estate prices, combined with rising interest rates have tempered sales, resulting in almost 25% fewer sales overall, since the same
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