We typically see a lot of movement through the summer months. Whether it be families relocating for a new school district, or people wanting to escape to avoid another brutal winter, that’s what happens. We have seen some movement, more movement than what people expected even with the higher rates. Bottom line: People will always need to move, sell or even better, invest.

Las Vegas prices haven’t dropped very much at all year over year. Crazy enough they are holding steady.

With median prices staying steady in Clark County across the board, people are holding their properties in anticipation of a crazy sellers market in the future.

However… Buyers are really taking advantage of this market. Little to no competition, concessions (Rate buy-downs, closing credit, etc). And yeah, the rates aren’t ideal (awful), but you can shop with ease, negotiate and then refi when it’s time.

But what does that mean for the future of real estate?

Well, when the Fed (Rates Gate Keeper) decides to lower rates, there will be a flood of buyers standing by. I mean, it’s going to be crazy. You thought during Covid was crazy, you haven’t seen nothing yet.

I see multiple offers, waiving contingencies, price increases…I see it all. Lets see what happens for the rest of 2023, I’m curious myself.

Lets see if my 🔮 is working. 😉