Monday, May 28, 2018

Las Vegas Housing Market Shows Renewed Growth Possibilities

(Click on the image to enlarge)
After reaching a peak median price of $265K in August 2017, the Las Vegas housing market started trending down, however reversing sharply in February 2018. If this new trend continues, it would be very bullish with new expected highs in coming months. Of course, the sideways or downside possibilities loom as well. Alternatively, a good backward-bending consolidation could lead to a new bullish trend. Both trendlines are confirming the rise as well as the fall.

The normalized trend (bottom chart) is drastically different. It exhibits a near-perfect linear growth trend, reflecting robust market internals. The perfect angle of the growth curve (as evidenced by a high r-squared of 0.976) suggests that this trend could continue for a while. Both trendlines are in tandem with the data trend, confirming the bullish internals.

Note: This analysis covers the City of Las Vegas, not the entire Clark County. 

- Sid Som, MBA, MIM
President, Homequant, Inc.
homequant@gmail.com


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