The Las Vegas real estate market was on a hot streak for more than a year, as homes haste buyers, prices continue to reach high time, and sellers have a burst of offers.
Well, an almost uninterrupted hot vein that is, as a report showed this week.
The price of the average sales of pre-owned family homes: most of the market was $ 405 thousand last month, unchanged with respect to the record in July, but up to almost 21 for Cento, August from last year, the Las Vegas trade association reported.
Prices have been reduced continuously for months, establishing records at every stage. According to the association, the price strip has taken “a momentary break” in August, while the market “is preparing for his last wave before the expected slowdown of the holiday begins”.
was not the first time the values ?? of the house were crushed since the market started to accelerate last year. The price of the median house of Las Vegas was equal from November to January in a nobargéin, but then later, $ 345,000.
Furthermore, sales decreased on construction sites at home and in the southern districts in Nevada during the spring season normally occupied in the middle of a backdrop at the national level. Of course, there is no way to predict where the market goes, even when, or how the current frenzy will end. Furthermore, the housing markets are always prone to UPS and bass, especially in Las Vegas.
but in recent months, some signs that the southern market was out of the brakes, went, while prices have resumed their movement and their total sales have invested their slide.
Perhaps the main reason: the main market fuel, economic money, continues to flow.
Rockbottom mortgage rates are still floating in historical minimal, allowing buyers to block lower monthly payments and establish their budgets. In all the United States, the loan costs have been reduced in recent months after a brief ascent at the beginning of this year, with the average rate with a mortgage loan of 30 years of 2.84% in August, from 3, 08% in March, according to the Giant Freddie Mac mortgage.
To be sure, just because you can borrow at low rates, it doesn’t mean that you can always afford home payments. The shopping busty that Swepts Las Vegas and the rest of the nation have created the extreme market of the seller, which drives the highest prices than the owners of houses charged in the frenzy.
all have sold, the families of Southern Nevada sold for almost 42% above their long-term price trend, which makes it the obsolete northern market in the nation, according to a report of the teachers of the Atlantic University of Florida and the International Florida University.
“Even with mortgage interest rates close to all the minimums, they still have challenges for some buyers and families of work organization that allow a home,” said the president of Las Vegas Realtors Aldo Martínez, in a press release.
So what will the price last month pause?
We discovered early enough.
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