Nevada’s Real Estate Market, Cash Is King.

Dated: August 10 2021

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Across the state, an increasing number of cash purchasers — including investors, investment pools, larger corporations and wealthy buyers from out of state — are driving up the pressure and squeezing out would-be purchasers reliant on loans and mortgages.

In the north and south, cash purchases are up steeply year-over-year after declining for years since the Great Recession. The rise stems partly from supply and demand pressures. There are many opinions, but little certainty as to how the influx of cash buyers will affect Nevada’s housing market in the long run.

LVR reported a total of 4,225 existing local homes, condos and townhomes sold during July. Compared to one year ago, July sales were up 0.8% for homes and up 24.7% for condos and townhomes. So far this year, local home sales are on pace to exceed last year’s total and surpass the last post-recession high of 38,153 in 2011.

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Kenneth Manesse

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