Las Vegas among the hottest housing markets
Nevada is now number one in terms of housing appreciation according to a recent government report. Aided by the big jumps in Las Vegas housing prices the report says that since last quarter of 2004 the housing prices have risen nearly 31.2 percent.
Las Vegas metropolitan area was the second hottest housing market with 33.3 appreciation in housing prices in the last 12-month period. The Reno metropolitan area is ranked third nationally with a 12-month appreciation rate of 31.8 percent.
In the last five years Las Vegas housing prices rose up by near 89.1 percent and Reno's rose by nearly 85.2 percent.
For people who already own homes the rising real estate prices is a blessing, but this is having an adverse effect on the first-time buyers and people of the lower income groups who are being priced out of the market.
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