[ad_1]
A house is shown in an undated image. (FOX5)
LAS VEGAS (FOX5) – House prices have increased in all postal codes of the Las Vegas Valley in 2018, according to a new SalesTraq report. Some postal codes have seen more home values increase by more than 20 percent. Real estate agent Steve Hawks said that in 2019, Las Vegas should see home values continue to rise.
"We would like to see more visitors coming from California coming here, Chinese cash buyers are coming here, people from Illinois and New York have flooded Vegas because of our excellent tax structure," said Hawks.
Hawks said this had created a challenge for local buyers.
"We are starting to see residents struggling to afford homes in some areas because of the revenue generating large down payments in California: from $ 100,000 to $ 200,000, which dramatically reduces the cost of a home. "
The valley is also expanding and Hawks said some of the hottest housing areas are those where new homes are being built.
"Inspirada is booming, west of Henderson, in northwest Skye Canyon, the Lee Canyon property out there is going to be developed for homes," he said.
Hawks described the market as the biggest seller of all time in Las Vegas and said there was still a lot of competition among buyers, especially for homes of $ 350,000 or less.
"It's very competitive right now for these prices, for those homes that have value, so if you could buy a house in that price range, I would definitely jump on it."
Copyright 2019 KVVU (KVVU Broadcasting Corporation). All rights reserved.
Source link
