When compared to pre-pandemic times, the reduction in housing activity hasn’t prevented home prices from reaching historical highs. Home prices in Las Vegas are still high despite being down 6% YOY from $420,000 in March 2022, to $395,000 in March 2023. According to a Redfin study stated in the article, the housing market is currently a buyer’s market. Despite the current economic situation, a crash in the Las Vegas housing market seems improbable and it seems the market is more likely to stabilize.
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