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Vegas Housing Long-Term Growth

Las Vegas’ housing market has been on a rollercoaster ride over the past decade, but the overall trend has been one of significant growth. Here’s a breakdown of the key points:

Rock Bottom to Boom Town (2012-2024):

The Great Recession’s Shadow:  The housing market crash of 2008 hit Las Vegas hard. By 2012, median sales prices for single-family homes had plummeted to around $118,000 – a historic low.

Recovery and Rise:  Since then, the market has seen a steady climb.  Factors like economic diversification beyond just tourism and a growing remote work trend fueled demand.

Triple Threat: By 2021, median sales prices had more than tripled to over $435,000, showcasing the impressive growth over a decade.

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