The Las Vegas Residential Market Will Be Up In 2020 – No Wait, Down

The local real estate experts and a national big data company have differing predictions for the Las Vegas residential market in 2020. Steady price growth vs. a decline.

Las Vegas - December 14, 2019 /PressCable/ —

“It is always a little bit confusing when the experts can’t agree on their predictions of the future. But the differences are not that great,” stated R. D. Campbell of Dr Cash Home Buyers, a home buyer company in Las Vegas. “I think the primary factors of supply and demand will not change much in 2020. I do think that other factors will have a greater impact, such as a continuing trade war with China. This year’s housing market has cooled off from the heated pace of 2018. Given the fact that Las Vegas matched its historical high of a median price in September 2018 I think a bit of cooling-off is a good thing,” he commented.

The website,, is a cash home buying company in Las Vegas that focuses on the house investors segment of the market. The majority of homes that are purchased by the company are remodeled or rehabbed and either sold to a retail home buyer or a landlord for rental. These house investors make all of the needed repairs to the property and they assume all risks, including the risk that home prices might tank.

The median price of a “resale” home was $315,000 in September 2019 as calculated from data from the Greater Las Vegas Association of Realtors. This matched the all-time high of June 2006. After the Sub-Prime Lending scandal of the 2000s, the median price of a Las Vegas home hit a low point of $112,000 in early 2012. Home buyers have seen housing prices decline slightly from this September high to about $307,000 in November and early December.

The National Association of Realtors recently published their prediction that the Las Vegas residential housing market would “overperform over the next several years.” This estimation was based on an assumption of continued strong job growth and population growth.

However, a report from published at about the same time predicted that Las Vegas housing prices would decline along with 25% of the top housing markets in the country. They predicted a 1 percent decrease in home prices in 2020. An economist with the organization stated that there is a “double-digit” percent decline in the number of existing homes that people can afford in Las Vegas. This affordability concern seems to have been an important part of their prediction.

Obviously some parties have some strong words to offer about the others’ reports. The Greater Las Vegas Association of Realtors has firmly stated that they agree with a stable and steady growth prediction. The president of this association stated that “the forecast didn’t make sense to me.”

Las Vegas and Southern Nevada has had one of the hottest residential markets in the last two years. Growth in jobs and population along with a tight inventory of homes led to some of the biggest annual increases in home prices in the country. But 2019 has been a much more stable year with moderate price increases. It will be interesting to see how 2020 shapes up for the residential market.

Contact Info:
Name: R.D. Campbell
Email: Send Email
Organization: Dr Cash Home Buyers - Las Vegas
Address: 9205 W Russell Rd, Building 3, Suite 240, Las Vegas, NV 89148
Phone: +17026056767

Source: PressCable

Release ID: 88939303

More News From Money - Morning Dispatcher

Sultan Qaboos bin Said, who modernized Oman, dies at 79

Jan 18, 2020

DUBAI, United Arab Emirates — Oman’s Sultan Qaboos bin Said, the Mideast's longest-ruling monarch who seized power in a 1970 palace coup and pulled his Arabian sultanate into modernity while carefully balancing diplomatic ties between adversaries Iran and the U.S., has died. He was 79. The British-educated, reclusive sultan reformed a nation that was home to only three schools and harsh laws banning electricity, radios, eyeglasses and even umbrellas when he took the throne. Under his reign, Oman became known as a welcoming tourist destination and a key Mideast interlocutor, helping the U.S. free captives in Iran and Yemen and...

On streets of Tehran, relief for now at no wider conflict

Jan 18, 2020

TEHRAN, Iran — Iranian newspapers proclaimed the country's attack on U.S. forces in Iraq to be "a dark night for Americans," and Washington's "first admission of failure in history." On the bustling streets of Tehran, however, there was relief Thursday that neither side appeared primed for war. “War is not something like the ‘Call of Duty’ game," said Dara Shojaei, a 23-year-old architecture student. “It's not a game you can play to win. There's no winner.” But with the relief came some mixed feelings about how far Iran should go to avenge the killing of Revolutionary Guard Gen. Qassem Soleiman,...

Soleimani, a general who became Iran icon by targeting US

Jan 18, 2020

TEHRAN, Iran — For Iranians whose icons since the Islamic Revolution have been stern-faced clergy, Maj. Gen. Qassem Soleimani widely represented a figure of national resilience in the face of four decades of U.S. pressure. For the U.S. and Israel, he was a shadowy figure in command of Iran's proxy forces, responsible for fighters in Syria backing President Bashar Assad and for the deaths of American troops in Iraq. Solemani survived the horror of Iran’s long war in the 1980s with Iraq to take control of the Revolutionary Guard’s elite Quds Force, responsible for the Islamic Republic’s foreign campaigns. Relatively...

Yemeni town thrives on extortion and torture of migrants

Jan 18, 2020

RAS AL-ARA, Yemen — Zahra struggled in the blue waters of the Gulf of Aden, grasping for the hands of fellow migrants. Hundreds of men, women and teenagers clambered out of a boat and through the surf emerging, exhausted, on the shores of Yemen. The 20-year-old Ethiopian saw men armed with automatic rifles waiting for them on the beach and she clenched in terror. She had heard migrants' stories of brutal traffickers, lurking like monsters in a nightmare. They are known by the Arabic nickname Abdul-Qawi — which means Worshipper of the Strong. "What will they do to us?" Zahra...

Saudi energy minister: Saudi Aramco's public offering 'soon'

Jan 18, 2020

RIYADH, Saudi Arabia — A planned stock offering of a small part of state-run oil giant Saudi Aramco "will come soon" and only at the direction of Saudi Arabia's crown prince, the kingdom's energy minister said Wednesday, further underlining the power of the 34-year-old royal. The minister, Prince Abdulaziz bin Salman, did not address reports that Aramco shares will begin to be traded on Riyadh's Tadawul stock market in December, but like Aramco itself, he did not dispute the initial public offering dates reported the day before by a Saudi-owned satellite news channel. However, there have been repeated delays to...

About Us

Get all the up-to-date breaking news about politics, business, entertainment, sports, lifestyles, weather, traffic, and local news in a seamless digital environment only in Morning Dispatcher.

Contact us: sales[at]

Subscribe Now!

Quick Links