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Frank Barrera REALTORFrank Barrera REALTOR

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Las Vegas Housing Market Update July 2022

If you are still interested in purchasing a home in Las Vegas, you have probably been keeping up with the news. But is the information that you are getting from reliable sources?

In times like these, you need an agent that is actively working in the market and understands the trends that the market is experiencing.

This past year has been tough for buyers looking to purchase a home, but now may be your time to shine!

With the shifting of the market, investors are backing off and giving way for the buyers that were not able to secure a home when the market was hot.

Do you still need a home? Are you renting and want to stop paying someone else’s mortgage? It’s your time!

Home values have been appreciating in value for the past three years (see figure 1) and are continuing to trend up (see figure 2).

With that, more homes are coming to the market (see figure 3) and we are seeing less buyers compete for the same property.

We are also seeing homes stay on the market longer (see figure 4), giving buyers more time to find that perfect home!

The bottom line is if you need to purchase a home, now is the time to do it. Homes will most likely continue to appreciate in value. So why wait to find that perfect home?

Call me and let’s go shopping!

Figure 1: The average Las Vegas home sale price from 2019-2022.
Figure 2: The average Las Vegas home sale price from Jan 2021-July 2022.
Figure 3: The average days on market for a Las Vegas home from Jan 2021-July 2022.
Figure 4: The number of homes on the Las Vegas market from Jan 2021-July 2022.

Frank Barrera, Realtor®

Local expertise committed to helping friends and families

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Posted in: News & Blog Tagged: buyers, henderson, homebuyers, homeshoppers, housing market, lake mead, las vegas, nevada, real estate

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