Posts with tag 'Find a Realtor'
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11
Las Vegas Market Stats
The Las Vegas Valley Real Estate Market received showed several positive signs in September, with New Listings up 12% from the year before and Pending Sales (accepted contracts that have not yet closed) up over 20% from the same time last year.
The Average Sales Price for Single Family Homes also went back up as well to back over $600,000 after a one month dip that saw more lower priced homes selling. While the median and average sales prices have fluctuated the past few months, this is due to more lower priced homes selling as prices have continued to slowly rise for the whole year.
27
Falling Mortgage Rates Are Bringing Buyers Back
If you've been hesitant to list your house because you're worried no one's buying, here's your sign it may be time to talk with an agent.
After months of high rates keeping buyers on the sidelines, things are starting to shift. Rates are already coming down due to a number of economic factors. And yesterday the Federal Reserve cut the Federal Funds Rate for the first time since they began raising that rate in March 2022. And while they don't control mortgage rates, this sets the stage for mortgage rates to fall even further than they already have – especially since more cuts from the Fed are expected into next year. And lower
26
Monthly Las Vegas Valley Real Estate Market Update
December brought with it some excellent signs for the market, and more good news on interest rates than we've seen in the past year and a half. While the FED has not actually lowered their prime interest rate, they have signaled that they intend to lower interest rates 3 to 4 times in 2024 with the first one expected in March. Despite the fact that the prime rate has not actually been lowered, mortgage interest rates have already moved down around a full percentage point from November, brining an average savings of $400 per month to buyers on a median priced mortgage. This has already led to a rise in pending sales in December, despite the holidays, a great sign that activity is likely to continue to pick up earlier than normal this year.
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