Las Vegas rental prices are moving up.
That must mean it’s time to buy.
Well, not really, but it sure does give people a good reason to consider getting into the market.
The Las Vegas Sun reported that rental rates are rising in conjunction with the average price of a home in Las Vegas.
This is pretty standard, as housing of all forms is based on the same economic trends.
A lack of inventory is what’s driving the rise of rents.
And, that lack of inventory in apartments is caused by the lack of inventory in housing. With fewer homes available for both sale and rent, it’s only natural for prices to rise.
The other byproduct of this low inventory market is that it makes the need for working with a real estate agent that much more important.
It’s the job of an agent to advocate for your position when interested in a house. Agents are trained to make sure your offer is heard and that it’s the best one for the seller to consider.
CENTURY 21 Gavish Real Estate prides itself on its service to buyers. We have systems in place to move fast, communicate accurately, and assertively negotiate.
As rents rise, you’ll be taking money away from what could be funds for a down payment.
Now, don’t get us wrong, we understand that home ownership may not be in the picture for every family.
Some people tend to move too much or enjoy the flexibility provided by leasing. We get it.
However, people often misinterpret inventory shortages as an unavailability of homes for sale.
It’s not that simple.
What’s happening is that homes are selling very fast.
This is another reason why aspiring home owners need an agent to work on their behalf, even if you’re just dipping your toes into the market.
We’ve seen it happen many times: “We’re just starting to poke around. But we did see this one place we really like.”
More often than not, it’s not long after a toe gets dipper that you end up fully immersed in the market.
And we’ll be there to help you swim.