Las Vegas-Henderson-Paradise, NV Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Las Vegas-Henderson-Paradise, NV, Federal Housing Finance Agency (FHFA) House Price Index (HPI) is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same properties. The index covers single-family homes with mortgages owned or securitized by Fannie Mae or Freddie Mac.

As of December 2020, the Las Vegas HPI was up 7.2% from a year ago and up 63.1% from its pre-recession peak in June 2006. Home prices in the Las Vegas metro area are now at all-time highs.

The strong housing market in Las Vegas is being driven by job growth, population growth, and low mortgage rates. The metro area has added over 100,000 jobs in the past year and its population has grown by 2%. Mortgage rates are currently at historic lows, with the 30-year fixed rate averaging 3.03%.

With home prices rising and mortgage rates remaining low, now is a good time to consider buying a home in Las Vegas. If you're thinking of selling your home, you should also be aware that you may be able to get more for your home than you would have just a few years ago.