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Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: alex753 on January 18, 2019, 04:11:58 AM

Title: Las Vegas Real Estate Inventory
Post by: alex753 on January 18, 2019, 04:11:58 AM

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

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

Title: Re: Las Vegas Real Estate Inventory
Post by: Scotland2016 on January 23, 2019, 12:21:22 PM

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.

Title: Re: Las Vegas Real Estate Inventory
Post by: waltworks on January 23, 2019, 03:31:20 PM

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