Baumer, Jennifer. Nevada Business. “A Place to Live: Nevada’s Residential Market” (November 1, 2016).
Call it flattening or softening or just call it a leveling off – Nevada’s housing market seems to have found an even keel in the second half of 2016, and most professionals in the industry are calling that a good thing.
After the housing bubble hit Nevada in the early 21st century when demand outstripped supply and prices rose over weekends and overnight, the inflationary bubble burst and Nevada’s housing market crashed.
Now the market is seeing cautious optimism on both ends of the state. Inventory of standing houses has been absorbed, the so-called shadow inventory seems to have disappeared and, at least in Southern Nevada, the population is growing at approximately 5,000 new residents a month.