Welcome to a new year! Housing in the Las Vegas Valley is still going strong! January 2021 Housing Data and Stats will be listed below, but first here is what is going on in our market:
With less than a 30 day home supply, low interest rates and increased rents will be driving the buying frenzy we contiune to see. Foreclosures and Short Sales continue to be a topic of discussion but since most people that bought a home in the past few years have equity in them, this may not be a short term problem but a long term problem that may hit our market in 2022 or 2023. Evictions are now starting in Nevada so will that free up homes for investors to sell? Will our inventory increase because of investors not wanting to rent to people anymore? These questions and more will be on everyone’s mind this year.
Here is a great article from the Las Vegas Review-Journal about the 2020 housing market:
Las Vegas’ housing market ended 2020 with surge of sales
Average Sales Price: $345,000.00
Average Supply: Less than 30 days of Single Family Homes for 2.5 million Clark County Residents, not including people moving into the state.
In closing, please call me anytime at: 702-768-2552 if you have any questions about Las Vegas real estate.