Las Vegas Valley will probably continue to rise in 2013, although at a much slower pace than they did during the previous year. Prices bottomed out last spring and have continued a steady rise ever since.
A new Zillow.com report predicts a 3.1% price increase by the end of 2013. The nearby small towns of Logandale and Mesquite are expected to see real estate value increases of 4.6% and 4.4% respectively.
After many years of being among the worst housing markets in the US, Las Vegas finally pulled itself out of its real estate tailspin in 2012. The Valley's median home value rose about 14 percent to nearly $130,000. Much of the increase was due to investors buying houses with cash and then looking to rent them out as a business.
We say: It's about time the Las Vegas real estate market had some good news! Let's hope the property value increases somehow turn into new jobs and a real economic stimulus for the local economy...
Learn some mo': Las Vegas Valley home prices likely to keep rising in 2013