The price of homes in Las Vegas continue to rise and experts say they don’t see that trend coming to an end any time soon.
The median sales price of a home in May was $295,000, which represents an 18 percent increase from the same time last year. Even from the previous month, home prices have risen 2.1 percent.
The Greater Las Vegas Association of Realtors released their numbers report this week and uses data from its listing service.
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The group says the average price of a home in Las Vegas could reach a pre-recession peak as early as this year.
Las Vegas’ median house price peaked at $315,000 in mid-2006, during the real estate bubble, and bottomed out at $118,000 in early 2012 after the market crashed.