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Buyer Fatigue is real.
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In just the last 3 months, Single Family Home Prices are up 9% in Las Vegas. Buyer's are tired of bidding wars, waiving appraisals and the extreme measures necessary to get an offer accepted in this 2021 market.
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New Mortgage Applications are down.
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Less buyers are inquiring for a new mortgage, this is a leading indicator for buyer activity slowing.
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Available Homes for Sale went up 20.8% last month.
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Single Family Homes on the market without offers rose 35% from the end of April to the end of June.
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Mortgage Rates are expected to continue rising.
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Rates are expected to rise with rising home prices and rents fueling inflation.
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Self-fulfilling Prophecy
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You know how it works. When more and more people (both the general public and media) are saying the same thing, asking the same questions or having the same concerns… eventually they speak it into existence. More and more people are talking about the market slowing down.
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Do you have one of "those" homes?
Let's be honest...
You know if there is something about your home that could impact your resale value in a normal real estate market. I'll be bold enough to call out some examples... power lines, on or adjacent to a busy street, your neighbor has the really ugly yard, 2 bedrooms vs 3+, middle of the alley where parking is a challenge, etc. This market will bail you out! If you've had thoughts of selling anytime in the near future, let's talk now while inventory is still low! We're here to help!
Contact us today to schedule your complimentary consultation: