In The News: Lied Center for Real Estate
Choosing a mortgage and buying a home are both big decisions.
More buyers, according to the latest statistics from the Las Vegas Realtors trade group, are closing deals with cash. In May, 31% of all existing homes sold in the Las Vegas area were purchased with cash, which is an increase of 15% from May 2020.
The National Association of Home Builders has said that lumber prices are triple what they were in April 2020, increasing average single-family home construction by nearly $36,000.
Single family rentals have come up as one of the rising stars of post-pandemic commercial real estate.
The pandemic has made the housing market even tighter in the mountain West, where first-time buyers are trying to decide whether this is just the future or a bubble headed eventually for a bust.
This time last year, amid the pandemic lockdown, Marissa Lovell's landlord offered to sell Lovell her current rental house in Boise, Idaho, for $256,000. Today, one year later, it's for sale for almost $400,000.
This time last year, amid the pandemic lockdown, Marissa Lovell's landlord offered to sell Lovell her current rental house in Boise, Idaho, for $256,000. Today, one year later, it's for sale for almost $400,000.
Experts think mortgage rates will hover around 3% this month – extending the window for borrowers to lock in a low rate.
Nevada's housing market is once again moving too fast for appraisals to keep pace with values and it's sidelining would-be buyers who require mortgages, according to Las Vegas Realtors president Aldo Martinez.
Welcome to the 2021 Las Vegas housing market. Depending on how much a buyer is willing to pay, it’s often a dream scenario for those looking to cash in, but more of a nightmare for those looking to break into the market or purchase more home.
Southern Nevada’s housing market is accelerating today with rapid sales and record prices, and industry sources say the market is moving at the fastest pace in a long time. So, are we floating in another market bubble?
Demand for houses has remained robust through the first months of the coronavirus crisis, with bidding wars on many properties, some Las Vegas area real estate agents say.