Las Vegas has experienced a notable 77.6% rise in housing inventory from the previous year. This increase is due to a mix of sellers, including retirees and investors, adjusting to current market conditions. The slowdown in buyer demand nationwide is largely attributed to high-interest rates affecting housing affordability. Although the Las Vegas market has seen a recent decline in new listings, many sellers are adapting by making concessions or lowering prices. The median list price in Las Vegas remains at $479,988, with a 3.6-month supply of inventory, indicating a resilient seller's market.
Las Vegas has seen a substantial increase in housing inventory, with a 77.6% rise year-over-year, attributed to a mix of sellers including retirees, investors, and homeowners adjusting to market conditions.
The overall increase in home listings across the U.S. is driven by a slowdown in buyer demand influenced by high-interest rates affecting affordability.
Despite a decline in new listings in recent months, sellers in Las Vegas are adapting by offering concessions, adjusting price expectations, or staying competitive through price reductions.
Las Vegas continues to attract buyers due to its tax structure, climate, and lifestyle amenities, positioning it well for future appreciation when national conditions, particularly interest rates, improve.
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