Parcl Labs Predicts Case Shiller Index in Las Vegas for December
Real Estate Analytics Company Provides Insight on Housing Market
Parcl Labs, a real estate analytics company, has released its prediction for the Case Shiller Index in Las Vegas for the month of December. The prediction is based on data analysis and modeling of various factors affecting the housing market in the region.
Case Shiller December Predictions
The Case Shiller Index is a widely recognized indicator of the health of the housing market in the United States. It is a repeated sales methodology that evaluates single-family residences only and is released on a monthly basis with a two-month lag. The last reported Case Shiller value for Las Vegas was 278.95 in November, and Parcl Labs predicts that the value will be 277.52 in December, down -0.5% since November.
The Las Vegas Housing Market
The Las Vegas housing market has been impacted by various factors over the past year. According to Parcl Labs, since December 2021, the housing market in the region has decreased by -1.21%, which the Case Shiller Index won't tell you since it only evaluates single-family residences with a two-month lag. It is worth noting that over the last 12 months, 19.84% of real estate sales in Las Vegas were condos or townhomes, which are not captured in the Case Shiller Index.
Is the Las Vegas Housing Market in Correction Territory?
According to Parcl Labs, the Las Vegas housing market is down -13.05% from its 2022 peak, which puts it into housing correction territory. This means that the market has experienced a significant decline from its recent high and may continue to decline in the short term.
All Case Shiller 10 Markets
A report of the findings from Decembers predictions for all Case Shiller 10 markets, which includes:
- Boston Housing Market
- Chicago Housing Market
- Denver Housing Market
- Las Vegas Housing Market
- Los Angeles Housing Market
- Miami Housing Market
- New York Housing Market
- San Diego Housing Market
- San Francisco Housing Market
- Washington, DC Housing Market
Can be found at Market Update: Predicting Case Shiller Numbers for December
FAQ
What is the Case Shiller Index?
The Case Shiller Index is a repeated sales methodology that evaluates single-family residences only and is released on a monthly basis with a two-month lag. It is a widely recognized indicator of the health of the housing market in the United States.
How has the Las Vegas housing market been performing?
According to Parcl Labs, the Las Vegas housing market has decreased by -1.21% since December 2021. Additionally, from the 2022 peak, the housing market in the region is down -13.05%. It is worth noting that over the last 12 months, 19.84% of real estate sales in Las Vegas were condos or townhomes, which are not captured in the Case Shiller Index.
Why is it important to know the Case Shiller Index prediction for December in Las Vegas?
The Case Shiller Index is a widely recognized indicator of the health of the housing market in the United States. By predicting the value for December in Las Vegas, real estate professionals and investors can gain insight into the current state of the market and make informed decisions.
In conclusion, Parcl Labs' prediction of the Case Shiller Index in Las Vegas for December provides valuable insight into the current state of the region's housing market. While the prediction indicates a slight decline since November, it is worth noting that the Case Shiller Index only evaluates single-family residences and has a two-month lag, which means that it does not capture all aspects of the market. Additionally, the Las Vegas housing market is currently in correction territory, which indicates that it may continue to decline in the short term. Nonetheless, the prediction can help real estate professionals and investors make informed decisions about buying and selling properties in the region.
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