Our prediction for Las Vegas real estate market in 2017: Double-digit price gains for lower priced homes and condos, townhomes in a strong housing market
Our prediction for Las Vegas real estate market in 2017 is that it should be like 2016, except a bit stronger. The inventory of Las Vegas homes, condos and town homes in the Las Vegas MLS has been decreasing for the past couple of years and has reached the lowest levels.
This along with increasing sales numbers has resulted in the increasing median sale prices, especially for condos and townhomes which are up by an incredible 20%. We explain why this happened and why we expect prices to increase further in 2017.
The reason that Las Vegas housing market should be better than 2016 is that banks are loosening lending restrictions and there are even discussions about Freddie Mac planning to buy subprime notes.
The fact that the median sales prices of Las Vegas homes are going up doesn’t apply to houses in all price ranges. We show why Las Vegas luxury homes for sale that are priced higher than $425,000 which is the conventional loan limit are not appreciating nearly as much as cheaper houses.
This is the video transcript for the overview of Las Vegas real estate market in 2017-Video with all embedded data.
This was a comprehensive discussion and our predictions for the Las Vegas housing market in 2017, where we not only tell you what is going to happen but why it is happening.
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Belated Merry Christmas and we wish you the best year EVER. Happy New Year. Masoud