LAS VEGAS (KLAS) — Home prices in Las Vegas hit a record high in November, surging by almost $15,000 since October. Condominiums and townhomes are below record levels but climbed even faster, jumping nearly $19,000 in just one month.
People who need to buy an affordable home got a big dose of bad news in a report released Tuesday by Las Vegas Realtors. November’s record $488,995 pricetag on a single-family home went up slightly more than 3% since October. The report looks at the median price in the market — half the homes on the market are more expensive and half are cheaper.
A new report from online real estate broker Redfin said U.S. investor home purchases went up 1% year-over-year in the third quarter, coming in at a total of about 52,000. Redfin said many buyers are priced out of the market under current conditions, and investors see less profit potential…