Las Vegas home prices leave wage growth in the dust – VEGAS INC

Las Vegas’ soaring home prices outpaced wage growth at one of the fastest rates in the nation the past few years, a new report shows.

The average weekly wage in Southern Nevada in the second quarter last year was $825, up just 2.2 percent from two years earlier. But the median sales price of homes shot up 30 percent in the two years ending December 2014, to $165,500, according to RealtyTrac.

Housing prices outpaced earnings here at the 17th-fastest rate in the country, by a ratio of roughly 14 to 1, the company found.

via Las Vegas home prices leave wage growth in the dust – VEGAS INC.

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