Prediction: Las Vegas Home Prices Up by 8.4% Through June 2015
While home prices in the Las Vegas real estate market are still well below their bubble peaks, they have risen steadily over the last couple of years. They will likely continue to rise for the foreseeable future, due to current supply and demand trends. A recent prediction for this metro area called for additional gains through 2015.
The economists and real estate analysts at Zillow recently predicted that home prices in the Las Vegas metro area would rise 8.4% within the next year or so (through June 2015). They also reported a gain of 22% over the last 12 months, nearly matching the Case-Shiller numbers mentioned earlier.
This forecast is based on the company’s proprietary Zillow Home Value Index, or ZHVI, a tracking model that shows the “median valuation for a given geographic area on a given day.”