Las Vegas home prices will keep rising at one of the fastest rates in the country next year, and sales will only creep up, according to a new forecast.
Home-listing site Realtor.com said this week that it expects Las Vegas-area home prices to rise 7.9 percent in 2019, second-fastest in the nation to Grand Rapids, Michigan, where prices are forecast to jump 8.2 percent.
Nationally, it expects the median resale price to climb by 2.2 percent.
Realtor.com also said sales totals would rise by 0.9 percent in the Las Vegas area, compared with a 2 percent drop nationwide.
Southern Nevada’s housing market accelerated in the past year or so amid low inventory and strong demand, but lately, amid higher mortgage rates, fast-rising prices and affordability concerns, sales have slowed and inventory has surged compared with a year ago.