Las Vegas home values slid in August to a new post-recession low and to levels last seen in October 1998 in a widely-watched real estate report released today. The Standard & Poor’s/Case-Shiller home price indices report found values in a 20 big U.S. cities it tracks rose an average 0.2 percent from July to August but fell 0.3 percent Las Vegas.The Standard & Poor’s numbers are reported in index values, rather than dollar amounts.
Each city it tracks was assigned an index value of 100 in Jan 2000, meaning a city with a current index value of 150 would have experienced a 50 percent appreciation rate since then for a typical home in that market. Las Vegas’s current index value is 95.18.
Other cities with declines in August were Atlanta, down 2.4 percent; Boston, down 0.1 percent; Los Angeles, down 0.4 percent; Miami, down 0.3 percent; Phoenix, down 0.1 percent, San Diego, down 0.2 percent; San Francisco, down 0.1 percent; Seattle, down 0.3 percent and Tampa, down 0.1 percent. The overall index grew thanks to gains in Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Minneapolis, New York, Portland, Ore., and Washington.
At Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas.
If you have a gay real estate story that you’d like to share with us, contact us at [email protected]