Map shows housing rebound in Clark County - 8 News NOW

Map shows housing rebound in Clark County

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LAS VEGAS -- While Clark County's housing market is rebounding from the depths of the recession it is still nowhere near where it was in terms of home prices before the economy went sour.

That's what can be gleaned from a RealtyTrac map of various counties in the United States, including Clark County, that shows changes in the housing market, unemployment and median household income every other year from 2006 through 2014.

The map shows that the median housing price in Clark County this year is $160,000, considerably below the $289,900 recorded in 2006. Some 22 percent of the county's home sales involve bank-owned properties this year, whereas so-called REO sales were virtually non-existent in 2006.

The real estate analytics company from Irvine, Calif., reported that among 410 counties surveyed 96 percent have better housing markets than four years ago when foreclosures peaked. But RealtyTrac found that only 8 percent of those counties have housing markets that are better off than they were in 2006.

"The housing recovery has taken root in hundreds of counties across the country and almost all local housing markets are better off than they were four years ago when foreclosure activity peaked in 2010, with more than 1 million homes lost to foreclosure in that year alone," RealtyTrac vice president Daren Blomquist said.

"We saw less than half that number of bank repossessions nationwide in 2013. Even in hard-hit markets like Stockton, Las Vegas and Lansing, Mich., where REO sales represented more than half of all sales in 2010, the percentage of REO sales has been cut at least in half."

 

 

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