Has the pandemic-driven economic created a downturn in Southern Nevada?

Dated: August 7 2020

Views: 190

Has the recent pandemic-driven economic created a downturn in Southern Nevada? Not last month!

As COVID19 has devastated other parts of the region’s economy, and thousands of Nevadans remain out of work. The housing market remains largely untouched (click July 2020 to find out how your home has been impacted) 

When compared with the same month in 2019, the total number 4,025 of homes, condos and townhomes sold in July was up more than 5%. While prices have gone up, supply remains low. Do you have thoughts of selling?

The number of homes now on the market is “well below” the six-month supply that’s generally needed for a market to be considered balanced (click below to see details).

Blog author image

Kenneth Manesse

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

Latest Blog Posts

Should You Negotiate When buying A Home In A Sellers Market?

Whether you are a first-time homebuyer or a seasoned veteran, the negotiation part of the transaction can be a little daunting and stressful. However, it is necessary to ensure you are getting the

Read More

27.9% of Las Vegas Local Property Sales - CASH

The total number of existing local homes, condos, town homes and other residential properties sold in Southern Nevada during 2021 was 50,010, according to lasvegasrealtor.com That was the first time

Read More

Las Vegas Predictions for 2022 Real Estate

Experts agree that the Las Vegas real estate housing market will continue to favor sellers for some time, possibly for years, but with slower growth in home prices and decelerating inflation. The

Read More

Las Vegas Most Underestimated Homeowner Project.

With growing demand for home remodeling and construction material shortages, budgeting accordingly for house projects has been unpredictable. Many homeowners may be getting sticker-shocked at how

Read More