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What’s that Vegas housing market looking like? Seems like it’s too early to strike with that cash you’ve been saving

From Vegas Inc:

Earlier this month, the Las Vegas Valley set a new high-water mark for median home prices at $316,000, according to a report released by Las Vegas Realtors.

Numbers have not been released for March, but the association president Tom Blanchard said it’s going to be nearly impossible to replicate that number because of the virus.

“It would be irrational of me to say everything’s remained the same,” Blanchard said. “It may — and I’ll use capital M-A-Y — it MAY be too early to sound that alarm, but let’s look at the facts.”

Those facts include the shrinking inventory of available homes for sale in Las Vegas. At the beginning of the month there was less than a two-month supply of homes, where a six-month supply typically indicates a balanced market. Pulling homes off the market continues to lessen the supply.

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