End-of-Year Market Update
What’s going on in the Las Vegas real estate market? Inventory is low and demand remains strong.
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Today I just want to provide you with a quick market update on some of the exciting things we’ve been seeing lately in real estate.
Our supply is still very low, especially for homes listed under $300,000. We only have about a month and a half worth of inventory, so things are extremely competitive between the buyers who are out looking for homes.
When we get to price points in the $300,000 and above range, the market balances out a little bit. Sellers are still seeing an advantage, but buyers have plenty more options in these upper price ranges.
We also wanted to share a bit of great news we just received. In Clark County, the FHA loan limit has risen from $287,500 to $294,000. FHA loans are typically easier to qualify for than other loans. They also don’t require a huge down payment, which is another plus.
Lots of exciting things are happening in Vegas right now. The NHL is here, the NFL is on its way, and our economic growth is strong. We’re anticipating a strong market next year.
If you have any questions about the real estate market or about real estate in general, feel free to reach out and give me a call or send me an email. I look forward to hearing from you soon.