9th Island Connection
WONDERING HOW A RECESSION HISTORICALLY AFFECTS THE HOUSING MARKET?
If you’re wondering what a potential recession could mean for the housing market, history tells us these facts.
In 4 of the last 6 recessions:
• Home Prices Actually Appreciated Only Falling During The Early 90s And The Housing Crash In 2008.
• Mortgage Rates, Though, Declined During Each Of The Previous Recessions.
Median Home Prices In Las Vegas, North Las Vegas and Henderson Nevada Are Decreasing. This chart represents the Las Vegas Valley not all of Clark County which includes Pahrump, Boulder City, and Mesquite.
The Median Sales Price is the price in the very middle of a data set, with exactly half of the houses priced for less and half priced for more.
The Market Average is computed by adding up the sales prices and dividing the result by the number of housing units.
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