2019 - ISSUE 1
TRENDS IN THE LUXURY HOUSING MARKET
The housing market in Nevada has been heating up along with the economy over the past few years, and the trend continued in 2018. While the luxury home market, defined for our purposes as homes selling for $1 million or more, is a small fraction of the overall housing market, it too has been significantly impacted by broader market forces over the past year. The overall strength of the economy has given homebuyers renewed confidence, leading to a greater willingness to purchase higher-priced properties. In addition, the economic recovery has increased financial security for many, increasing
the potential buyer pool for million-dollar homes, while rising home prices have simultaneously increased the stock of higher-cost homes around the valley and throughout Nevada.