Updated about 7 years ago on . Most recent reply
NV is still one of the hottest markets in the country
NV is still one of the hottest markets in the country appreciating in the range of 7% to 13%. See below:
This map illustrates the top states for property appreciation rates year over year. Property appreciation is calculated based on repeat sales of the same properties, which can avoid the problem of trying to account for price differences in homes with varying characteristics. All states saw property appreciation in comparison to a year ago.
Eventually affordability will become an issue but for now the market is still thriving. No S.A.L.T. restrictions, no state income tax, very low property taxes, relatively low property values etc are all attracting buyers from across the country.
What are your thoughts on the NV market? Vegas more specifically?
- Robert Adams
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I think Reno probably has more growth than Vegas because they are becoming a manufacturing and logistics hub. Homes are probably cheaper to buy in NV than CA but there are still a lot of places that are cheaper than Nevada.