Five years ago, Las Vegas’ housing market was red-hot. Homes sold rapidly, as buyers flooded properties with offers and routinely paid over the asking price. One agent said he held an open house that drew so many people that local security did crowd control. Soon enough, however, the market had slammed the brakes, as sales totals plunged and prices tumbled. This wasn’t the first time that Southern Nevada’s housing market rapidly changed course — and if history is any guide, it likely won’t be the last. Las Vegas’ housing market has been on a decades-long roller-coaster ride, with dramatic ups and downs that have been more extreme than in metro areas across the country. Housing can be a shifting, cyclical business anywhere, but in America’s casino capital, the fluctuations have been especially big. “Las Vegas has always been a volatile market,” said Daryl Fairweather, chief economist with listing site Redfin.…