2020 - ISSUE 1

LUXURY HOUSING MARKET

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Nevada’s luxury home market entered 2020 with all signs pointing toward building on a positive 2019 that mirrored strong growth in the state and national economies. In that year, 1,269 luxury homes sold in Nevada, a total that represented an 11.8 percent increase over the 1,135 sales in 2018 and a near doubling of the 655 luxury home sales just four years earlier. The economic momentum has since evaporated amid the COVID-19 public health crisis and related economic response. The economic uncertainty is likely to impact the broader real estate markets, but the implications for the luxury segment of the residential market have yet to be determined.