Is the Las Vegas Real Estate Market Still Hot?

It is a trend that has been seen throughout the valley: Las Vegas real estate prices continue to rise, but sales are starting to fall. According to the latest report from Las Vegas Realtors, 3,758 existing local homes, condominiums and townhomes were sold in May, a decrease of 8.8% for homes and 6.6% for condominiums and townhomes compared to the same period last year. There are currently 7426 single-family homes available in Las Vegas, Henderson and North Las Vegas. Despite rising inflation and mortgage rates, the Las Vegas housing market is still thriving. The domestic real estate market has already recovered faster than expected due to damage caused by the COVID-19 pandemic. The Las Vegas area is renowned for its prestigious upscale neighborhoods and exclusive gated communities, and the real estate market in this region offers an excellent opportunity for investors. Home values in the Las Vegas metropolitan area are expected to rise by 10 to 15% over the next twelve months. This means that Las Vegas is surrounded by a lot of open land, but it can't expand simply to meet demand. Not only is it limited to Las Vegas or Nevada, but you can also invest in some of the best real estate markets in the United States. For first-time homebuyers, if they find a home and it's affordable, make an offer. They are expressing confidence in the stability of house prices and in the number of housing units available on the market.