Las Vegas Housing Market: A Fresh Update ?

It’s been a busy week here in Las Vegas, with the weather starting to warm up and people out and about enjoying the city. I have a trip back east coming up soon, but let’s focus on the latest updates from the Las Vegas housing market. As you know, I post statistical updates on LUXE BLOG weekly to deliver these stats. As always, this data is for single family homes in the Las Vegas Valley. If you have any questions, let me know!

Last Week’s Data ?

• ? ER: 4,246
• ?️ SS: 8 (0.22%)
• ? REO: 30 (0.61%)
• ?️ TRAD: 4,208 (99.2%)

The Latest Stats ?

Let’s take a look at the most recent stats from the Las Vegas housing market:

As Of April 3rd, 2023

• ? ER – 4202
• ?️ SS – 9 (0.22%)
• ? REO – 29 (0.61%)
• ?️ TRAD – 4164 (99.2%)

Single Family Homes Under Contract

• ? UGS/UGNS – 2496
• ?️ SS – 27 (0.73%)
• ? REO – 22 (0.30%)
• ?️ TRAD – 2447 (99%)

We can see a slight decrease in active single-family home listings compared to the previous week’s stats. However, the percentage of properties under contract has remained relatively stable.

As Summer Approaches, Is The Las Vegas Housing Market Heating Up?

Market Trends ?

Here are some interesting market trends to consider:

Mortgage Pulse:

• ? Conforming – 5.99%
• ? FHA – 5.5%
• ? VA – 5.375%
• ? Jumbo – 6.125%

Percentage of Homes Sold Under:

• ? 30 Days – 41.1%
• ? 31-60 Days – 19.9%
• ? 61-90 Days – 13.2%

Median Home Price: $424,995

Price Reductions: 578

Mortgage rates have slightly increased across all categories, possibly due to inflation concerns and the Federal Reserve’s monetary policy. However, the percentage of homes sold under 30 days remains high, indicating that demand for housing in Las Vegas is still strong.

Insights & Recommendations ?

As someone who has been closely observing the Las Vegas real estate market, it’s apparent that the market is still adjusting after a period of high demand. While we have seen a slight decrease in active listings, the percentage of properties under contract has remained stable. This could indicate that there is still strong demand from buyers in the market.

It’s important to remember that real estate is a long-term investment. Making informed decisions is essential. There are thousands of YouTubers who make a living off “housing market crash predictions”. And right now? They are looking pretty silly. It’s about data and insights, not speculation and hype.

Conclusion ?

Thank you for reading my latest update on the Las Vegas housing market. Stay tuned to LUXE BLOG for more updates, and don’t hesitate to share this information with friends and family who may find it helpful. Remember, making informed decisions based on data and insights is crucial for real estate investments.