Who needs to buy or sell a home!?
Current takeaways:
- The upcoming presidential election. Buyers are hesitant to make a big purchase amid this year’s political uncertainty. They believe the outcome of the presidential election could change the course of economic, housing and other policies.
- Price Stabilization: After several years of rapid price increases, home prices are stabilized. While still high, the rate of appreciation has slowed compared to previous years.
- Increased Inventory: There has been a slight increase in housing inventory, providing buyers with more options. This shift helps ease some of the competition that drove prices up.
- Interest Rates Impact: Higher mortgage rates are affecting buyer affordability, leading to a slowdown in sales. Many potential buyers are either waiting to see if rates drop or are being priced out of the market.
Check out the monthly Las Vegas real estate market numbers below and Call Me to talk through the current market trends!
