Las Vegas Homes For Sale – Disgusting! The overall real estate market has sadly taken a turn for the worse due to greedy developers, investors, home builders and sellers. The Fed has also made massive monetary policy mistakes that have badly hurt the general public. Real estate developers, investors and Wall Street are basically trying to take over the entire housing market. Even in Las Vegas, with just 3,500 Las Vegas homes for sale currently on the market, investors are still trying to find ways to take advantage of homeowners. The current median price of Las Vegas homes for sale now stands at $450,000. This is close to the peak prices of last year and much of it is due to overall demand, including large investment groups. Although there are less Las Vegas homes for sale, this will likely start to change in the coming months due to soaring interest rates. The amount of Las Vegas homes for sale should start increasing as less buyers qualify because of 20 year high interest rates. The average home borrower is now paying 8% interest while overall home prices have not yet declined. As inflation is still out of control, interest rates and mortgage rates are likely to further climb and home prices, especially Las Vegas homes for sale, could start to see steady declines as we get closer and into 2024. Many home forecasts are now predicting further price declines as we get closer to the end of 2023. With near record home prices and interest rates, it is a wise option to be patient, particularly if you’re thinking of buying one of the many Las Vegas homes for sale.
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Jerry Abbott
NV License # S.0183274
Summit Properties
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