Our friends at the Lied Institute for Real Estate Studies at the Lee Business School at UNLV have released their "Report on Nevada's Housing Market" for October 2016. This monthly report is free and shows state-wide trends, as well as trends broken down by Northern and Southern Nevada.
Some quick takeaways from the report include (remember these numbers apply to October '16):
- Single Family Home Sales down ~13% Y2Y for both New and Resale state-wide
- Residential Construction Starts up 11% Y2Y
- Las Vegas housing affordability has increased since 2014
The data presented in the report compliments and affirms the numbers and analysis we have presented over the past few months. Keep an eye out for the release of our comprehensive 2016 Annual Report in the coming days.