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Las Vegas Real Estate Trends and Area Housing Market Report for October 2016
Las Vegas Real Estate Trends and Area Housing Market Report for October 201611/18/2016 Las Vegas Real Estate Trends and Area Housing Market Report for October 2016   The Southern Nevada’s housing market, the housing supply remained tight with respectable sales volumes and continued appreciation on a year-over-year basis.

Leaders of the Greater Las Vegas Association of REALTORS® (GLVAR) and UNLV’s Lied Institute for Real Estate Studies aren’t buying into recent news reports wondering if the housing market could be headed for another bubble.
 
Dr. Ed Coulson, PhD, Director of the Lied Institute for Real Estate Studies and Professor of Economics at UNLV, cited three major factors that make a housing bubble unlikely.
 
First, he told a group of GLVAR members during a Nov. 8 meeting at the association, Southern Nevada has a very tight housing supply, unlike market conditions leading up to the Great Recession and the housing downturn that accompanied it. Secondly, he said local home prices have been stable for many months, not rising rapidly like they were during the housing boom a decade ago. Finally, mortgage interest rates are near historic lows, helping housing affordability.
 
Coulson sees “no price bust or price boom.” Rather, he ... more

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