Based on a new report released by Las Vegas Realtors (LVR), the median price of existing single-family homes sold in Southern Nevada through its multiple listing service during January 2022 was $435,000. That tops the record high set in December. The median home price is up 26.1% from $345,000 one year ago.

LVR President Brandon Roberts said: “Predictions of an unseasonably warm winter for the housing market appear to be coming true, despite a recent rise in mortgage interest rates. It has now been a decade since the local housing market hit its post-recession bottom, when the single-family home price in Southern Nevada hit its low point of $118,000 in January of 2012.

“It’s amazing to think that local home prices have more than tripled since then and are now $317,000 higher than they were 10 years ago.”

Roberts expects local home prices to continue rising in 2022, but agrees with national experts who have been forecasting that they are likely to increase more gradually than they did in 2021.