Posts with tag 'Home Buying'
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9
Market Update
Despite many reports that there would be a major pull back before the election, the Las Vegas Real Estate Market experienced another positive month in October. In a positive sign for Buyers (and an indication that people who've been wanting to sell are finally moving forward) new listings have been going up and creating more options for Buyers. Although homes have been sitting on the market slightly longer (38 days compared to 33 days last October) both the median and average home price have still risen strongly year over year. The median price for a single family home now sits at $475,788 (a 5.7% increase over last year) and the average price sits at $585,762, and while those numbers can fluctuate monthly, our market is well above the national average.
New listings, pending sales and closings are all up compared to last year and the experts are all predicting that with the election being over and the FED continuing to cuts rates we should continue to see increased activity movi...
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
23
Some Experts Say Mortgage Rates May Fall Below 6% Later This Year
Some Experts Say Mortgage Rates May Fall Below 6% Later This Year
There's a lot of confusion in the market about what's happening with day-to-day movement in mortgage rates right now, but here's what you really need to know: compared to the near 8% peak last fall, mortgage rates have trended down overall.
And if you're looking to buy or
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