There is an increasing trend of fewer homes for sale in Las Vegas.
In fact, it’s happening everywhere.
What we’re experiencing is the market’s reaction to two issues:
Let’s look at the second item, as that’s most relevant to shoppers looking for a home for sale in Las Vegas.
As the recession’s grip tightened to a stranglehold around the valley, single-family-home investors began to take notice of low-priced, well-maintained homes that would make ideal living situations for families who were financially damaged during the downfall.
People flocked to sing-family rentals. They offered security, room, comfort, and affordability. For investors, they represented profit. Lots and lots of it.
But, this wasn’t a bad thing. In fact, investor activity saved the Las Vegas housing market.
Had large swaths of vacant neighborhoods remained unoccupied, left to rot in the sun while banks across the world sorted out ownership, thousands of streets would have become overgrown bastions of squatters and valueless real estate.
Investors ensured that these homes well maintained and occupied. They were able to pour in money faster than banks or economic incentive programs. Las Vegas could have been something else entirely today if not for the quick movement of big companies and many local real estate investors.
All that being said, it’s now creating an unfortunate byproduct: they’re not selling the homes they bought.
as families expand and people come and go over the general course of life.
Investors, on the other hand, often use a buy-and-hold strategy, especially when a home is making lots of money.
This means that in Las Vegas, thousands of homes that would have hit the market under normal economic scenarios aren’t seeing a for sale sign in the front yard.
With fewer houses to choose from, sellers can raise the price and buyers have little choice but to pay more or wait out the market.
However, for a prepared buyer, a seller’s market can have benefits.
Fewer buyers are on the market. Keep in mind, though, that buyers who are active are also prepared, and can move fast.
This means that if you have a down payment, mortgage approval, and a neighborhood in mind, you have to move fast.
If you see a home you like, get in there to tout it so you can either short-list it or rule it out.
Century 21 Gavish Real Estate agents are quickly calling back buyers when a match arises. Our technology tools and insightful agents are your best bet to find the right property quickly.
This is not the time to poke around on a website hoping no one will offer on the home you have yet to decide to tour.
We believe that in today’s market, the decisive buyer is going to win.
And we like to help our customers win.