Waiting To Sell? Here’s Your Sign.
The Las Vegas real estate market; while still in favor of sellers at the moment, is shifting quickly with rising interest rates.
What Is 2020 Doing To Las Vegas Real Estate?
It Depends On Who You Are
This has certainly been a unique and challenging year so far for many of us, particularly in Las Vegas. How 2020 has impacted our housing market depends a lot on where you are in the market. While there are as many particular situations as there are clients; for our purposes here, we’ll break them down into the following categories: Sellers, Buyers, & Homeowners .
Sellers – Possibly The Biggest Winner?
Those looking to sell their home this year have seen very little competition. The demand may not be quite what it was last year, but it is still well-outpacing available inventory supply. Many areas in Las Vegas are seeing 2-3 weeks as a median time on market. Historically, this is incredibly low. This demand is raising home values & in some cases for well-marketed homes, in show-ready condition, even creating bidding wars.
…Las Vegas Economic Forecast, or “I’m going to wait until the market crashes!”
I’ve heard it from a few people. One of them is sitting on over $130,000.00 in cash. Waiting for another 2008 market collapse. The thing is, that money under your mattress, it’s loosing value every year due to inflation. Sure, real estate goes up & down cyclically but nobody knows exactly when those cycles hit. …