Vegas Annual Appreciation Rate Over 6 Percent

Vegas Annual Appreciation Rate Over 6 Percent

The new S&P/Case-Schiller Index is out for February. Las Vegas enjoyed an annual appreciation rate of 6.4 percent.

February house prices increased in all 20 U.S. cities included in the report year-over-year. The biggest winner was Portland, whose prices were up 11.9 percent and Seattle, up 11 percent.

The index calculates prices on a three-month rolling average. That means February's numbers are an average of December, January and February prices.

How about a comparison: Home prices are down 13 percent in the 20-city index from the peak of the boom (summer 2006)  but up 36.3 percent from the bottom of the market (March 2012). 

My 2 cents: Six percent is good enough. Stability is healthy for real estate markets. And it's not a bad return on a home because, hey, you have to live somewhere!

Changes in property prices. Concept stock photo

((hugs)) BETH Ellyn

The Las Vegas Real Estate Concierge

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MBA: L'ecole du Hard Knocks

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Phone: 702-324-6911
Dated: April 27th 2016
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