By Gabriel Gonzalez
Housing prices rose significantly putting financial strain on those who dream of purchasing homes, including College of Southern Nevada students.
According to Redfin, real-estate brokerage with data from MLS and public records, “The Las Vegas housing market is somewhat competitive. The median sale price of a home in Las Vegas was $440K last month, up 1.9% since last year. The median sale price per square foot in Las Vegas is $260, up 4.0% since last year.” Las Vegas’ median sales price is 3% higher than national average.
Johnathon Miller, CSN student, said, “The rising house prices are making it very difficult to find affordable housing. I’m hoping to own a home or at least be able to rent one in less than five years, but it will mostly come down to finding a job that pays well and budgeting.”
Aidan Davie, CSN student, said, “No, I do not believe I will be able to own my own home in the next five to 10 years. At our current pace, I feel homeownership in my age bracket will be a rare sight.”
Davie said because of the current housing market, he and his family have had to move to another home. “Rising housing costs have complicated my ability as a student to find affordable housing. Having recently moved houses, it was clear to me how expensive homes have become. My family was forced to downsize because of rising prices in the Las Vegas Valley.”
Zach Bradley, CSN student who rents a home with his wife, shared they believe they can own a home in the next five to 10 years but admits, “Prospects don’t look so good. Ultimately my wife and I decided we’d want to head east someday.”
Coyote Student News at the College of Southern Nevada 