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As 2014 came to a close, the southern Nevada housing market demonstrated continued resiliency as median home prices finished approximately 10 percent higher than where they started the year. While there have been month-to-month variances, the overall market can best be characterized as more stable than the roller coaster ride over the past decade. Availability within the resale market has also remained at respectable levels, and foreclosure volumes are at post-recession lows heading into 2015.
With over 2.6 million apartment units updated each month, ALN Apartment Data is one of the most complete and accurate data provider available anywhere in the country. The Las Vegas Apartment Market Overview for December 2014 is now available to view.
We all know that job growth drives demand for apartments, and we all know that 2014 was an exceptional year for the apartment market. So, one might ask what kind of job gains would be necessary to maintain the supply/demand ration found this year.
The U.S. apartment market is ending 2014 with the strongest fourth-quarter annual effective rent growth in nine years, according to early release apartment data from Axiometrics, the leader in apartment research and data.