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
Will Las Vegas Red-Hot Housing Market Cool in 2022?
Dated: December 3 2021
Will Las Vegas red-hot housing market cool in the coming year?
Probably not, according to National Association of Realtors Chief Economist Lawrence Yun. Yun shared four reasons why he thinks another solid year lies ahead for real estate:
- 1st. No housing crash in the coming months
Some have speculated that astronomical home price growth has set us up for a drop similar to 2008-2009. But ongoing low mortgage rates, high demand, and regulations around subprime lending should keep that from happening.
- 2nd. Manageable mortgage rate hikes
While mortgage rates will come off record-low levels, the hikes won't be large enough to put buyers off. Yun estimated mortgage rates to rise to 3.7% in the coming year.
- 3rd. Help for first-time buyers
The proposed legislation would assist first-time homebuyers with down payments and potentially provide additional funds for minority and low-income buyers.
- 4th. More inventory available
Mortgage forbearance options established by the CARES Act are expiring. People behind on mortgages can sell their homes instead of entering foreclosure, opening more inventory for buyers.
Housing Market Looks Promising in 2022! Are you ready to make a move?
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