New-home sales are up from 2014

The Las Vegas Valley's housing market has improved quite a bit since its lowest point during the recession. Unemployment has since cut in half (but still remains at a national high), job growth has continued to better, and homebuilders are selling more houses.

According to Las Vegas-based firm Home Builders Research, 4,212 new homes have been sold in Southern Nevada so far this year, up 12.7 percent from the year prior. The median sales price was also up 17 percent from the same period in 2014, coming in at $305,047.

Regardless of its many improvements, the local economy still has a long way to go in terms of overall health and stability. Greater Las Vegas still has some of the nation's highest rates of foreclosures and upside-down borrowers with 25 percent of homeowners still underwater and one in every 507 homes statewide having received a foreclosure-related filing in the last month.

Shawn & Kyle Cunningham
Cunningham Group at RE/MAX Advantage | (702) 823-0855 Shawn | (702) 823-0840 Kyle