How is the Real Estate Market in Las Vegas?

Dated: December 6 2023

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Inventory remains at historically low levels nationwide, with only 1.15 million homes for sale heading into November!

Low inventory, elevated sales prices, and decades-high interest rates continue to weigh on the housing market, causing sales of existing homes to - 47.1% fall to their slowest pace since August 2010.

According to the National Association of REALTORS® (NAR), U.S. existing-home sales declined 4.1% month-over-month and 14.6% year-over-year as of last measure, as prospective buyers, faced with rising homeownership costs, wait for mortgage rates, and home prices, to drop.

The November numbers are in:

Where are people buying homes, by Metropolitan Statistical Area?

1. Ogden-Clearfield, UT (9.8%)

2. Cape Coral-Fort Myers, FL (9.6%)

3. Boise City, ID (9.4%)

4. Las Vegas-Henderson-Paradise, NV (9.3%)

5. Provo-Orem, UT (9.2%)

6. Lakeland-Winter Haven, FL (9.2%)

7. Jacksonville, FL (9.0%)

8. Phoenix-Mesa-Chandler, AZ (9.0%)

9. Palm Bay-Melbourne-Titusville, FL (8.9%) 

10. Durham-Chapel Hill, NC (8.4%)

Find ACTIVE homes for sale in Las Vegas (HERE)

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Kenneth Manesse

Helping you experience something new in Las Vegas that's guaranteed. Real Estate with less stress!....

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