Las Vegas Real Estate Inventory

[alex753]

Inventory is climbing substantially in Vegas. Is anyone seeing prices soften yet?

https://www.calculatedriskblog.com/2019/01/housing-inventory-tracking.html

[Scotland2016]

Small anecdote: The houses in my neighborhood normally sell immediately and now they are sitting. The most recent sale was on the market for almost three months and sold 30k below asking price.

[waltworks]

Inventory is climbing everywhere, basically, and has been since late summer.

Prices are sticky in RE, though. It will take a year or two of inventory increases (in many markets we're still under 6 months supply) for prices to actually drop at all.

So, it's a horrible time to sell. But it's not a great time to buy yet, either. If you have the option, give it a couple of years.

-W