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Las Vegas is Highest Appreciating Housing Market in U.S.

Las Vegas is Highest Appreciating Housing Market in U.S.

Las Vegas is the highest appreciating housing market in the U.S. leading the way with 6.4% year over year through June, according to the CoreLogic Housing Price Index, which provides measures for U.S. housing markets.

The index is regarded as one of the most historically dependable since it rates housing markets based on property type, price, time between sales, loan type (conforming vs. non-conforming) and distressed sales. Broad national coverage is available from the national level down to ZIP Code break downs.

Many large cities continue to experience price increases, with Las Vegas leading the way at 6.4% year over year. However, most of the other major metropolitan markets in the west have seen appreciation slow in recent months. Lost Angeles saw appreciation slide to 2.8% in June, while San Diego slipped to an average of 1.7% during the month, according to CoreLogic.

Higher average home prices have triggered a major decline in home appreciation in the San Francisco Bay Area. San Francisco home values showed an average increase in appreciation for the month of only three-tenths of one-percent.

Home prices nationwide increased year over year by 3.4% in June 2019 compared with June 2018 and increased month over month by 0.4% in June 2019 compared with May 2019.

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Mike Colpitts

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