Homes in the bottom third of the market, aren’t experiencing the same post-recession recovery in value as homes in the more expensive tier. For instance, less than 1 percent of Las Vegas homes are worth their pre-recession peaks. While factors such as location and the number of foreclosures in an area could continue to depress prices, there has been a 17 percent, year-over-year drop in the supply of starter homes, which will likely lead to higher prices if demand continues at current levels.
Advertisement
Related Stories
Market Data + Trends
Vacation and Investment Home Market Insights
A recent report finds beach homes to be the most sought-after vacation-home type and that the investment potential of a second home is an important factor in the purchasing decision
Affordability
How Much Income Do First-Time Buyers Need to Afford the Average Home?
The median-priced home is unaffordable in 44 of the 50 largest U.S. metro areas
Affordability
What Is the Relationship Between Urban vs. Suburban Development and Affordability?
A new paper from Harvard's Joint Center looks at whether expanding the supply of suburban housing could, in turn, help make dense urban areas more affordable