Southern Nevada house prices were up 28.5 percent year-over-year in March, compared to 20.6 percent nationally, according to the S&P CoreLogic Case-Shiller index released Tuesday.
Despite Las Vegas’ rapid price gains, several other cities logged even higher year-over-year growth in home values, including San Diego (29.6 percent), Dallas (30.7 percent) and Phoenix (32.4 percent).
All 20 markets tracked for the report showed double-digit annual price gains. Topping the list was Tampa, Florida, where prices skyrocketed 34.8 percent from a year earlier.
It’s a safe prediction that price growth will begin to slow, but the “timing” of that “is a more difficult call,” said Craig Lazzara, managing director at S&P Dow Jones, in a news release.
Home sales continue to climb despite the rising costs of homes on the market.
The median listing price for a home in Parhump on Tuesday was $399,000, according to the real estate site, realtor.com, which recorded 1,454 properties for sale in the local market. The median listing price for a home in Pahrump in June 2021 was $329,450, according to the site.