Current takeaways:
- Rate drops and more inventory means opportunities for buyers! So Why Aren’t Buyers Buying?
- Current home prices. Even though monthly payments are declining, home-sale prices are just a few thousand dollars shy of early July’s record high. That’s partly because inventory is losing momentum and homes for sale are still scarce in some areas.
- Lower mortgage rates. Some homebuyers are hoping mortgage rates will decline more than they already have after the Fed cuts interest rates in September. However, if rates do drop significantly, it may trigger higher home prices and more competition between buyers.
- The November presidential election. Some 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.
- https://www.zillow.com/research/august-2024-market-report-34370/
Check out the monthly Las Vegas real estate market numbers below and Call Me to talk through the current market trends!
