While home prices are up considerably in Las Vegas, sales volume hasn’t caught up to its pre-recession levels, according to a new report from Las Vegas housing tracker Home Builders Research.
Eli Segall, of the Las Vegas Review-Journal, writes that 631 homes were purchased in Clark County, Nev. in October, marking a one-month drop of 247 recorded sales. The year’s tally was brought up to 6,273, though, up 14.2% from the same 10-month period in 2015.
The median sales price of October’s closings was $335,000, up 5.7% from a year earlier.
Still, builders aren’t selling nearly as many homes in Southern Nevada as they used to. According to [the] research, builders closed nearly 39,000 new-home sales in Clark County in 2005 alone, during the real estate bubble.