Stay Ahead in Vegas! Your Guide to Navigating Mortgage Rates & Market Momentum

 

The Super Bowl in Vegas was one for the books! Breaking records left and right, from viewership to betting, the economic impact was phenomenal. Huge congratulations to the Chiefs for their well-deserved victory!

Now, shifting gears to economic news, recent data suggests stability, but there's a twist. Despite hopes for better rates, inflation hasn't budged as expected, nudging mortgage rates up slightly. Nationally, they're averaging at 6.77%, but remember, individual rates may vary based on specific factors.

But hold onto hope! There's optimism brewing for rate improvements in the near future, especially with expectations of inflation easing. And keep an eye out for economically driven decisions as we edge closer to election time.

In the realm of real estate, February's home sales are keeping pace with last year, with around 1700-1750 single-family closings in Las Vegas. Median home prices are holding steady around $445,000 over the past 30 days, marking a 5% increase from last year.

With potential rate improvements on the horizon, it's crucial for both buyers and sellers to be proactive. Buyers, stay prepared to pounce, while sellers might find this a prime time to list their homes. Keep your finger on the pulse of the market—it's gearing up for some action!