Las Vegas Valley home prices likely to keep rising in 2013
21 January 2013
VEGAS INC archives
Las Vegas home values are expected to rise this year, though not nearly as fast as in 2012.
After hitting bottom last spring, Southern Nevada home values are projected to rise 3.1 percent by the end of the year, a new report from research firm Zillow found. Home values in North Las Vegas and Henderson are expected to climb 3.2 percent, Zillow said.
The submarket with the biggest anticipated rise, 4.6 percent, is Logandale, an unincorporated town about 60 miles northeast of Las Vegas. Similarly, home values in Mesquite on the Arizona border (about 35 miles northeast of Logandale) are expected to rise 4.4 percent.
The region’s median home value rose 14 percent last year to $129,100, according to Zillow. Cash investors helped fuel much of that increase by picking up cheap homes to rent out for profit.
Nationally, home values are projected to rise 3.3 percent this year after climbing 6 percent in 2012.
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