Hi, It's difficult to keep up with all of the happenings here in Las Vegas and all of the people moving to town! There were 96,618 driver’s license surrenders in 2022. Most surrenders came from California ranked at number 1. 1. 40% of Surrenders came from California 2. Texas 3. Florida 4. Washington 5. Arizona Professor Stephen Miller of the UNLV Center for Business and Economic Research has been tra

May Newsletter

Hi, Have we come to an end of a cycle or just a blip? Las Vegas was one of the first cities to experience the recent correction in the housing market. In May of 2022 we saw prices hit the all-time record high of $485K. We know the story, the Fed raised rates and prices gradually begin to fall. Home prices decreased approximately 1 or 2% a month but haven’t changed much since December. March is the firs

April Newsletter

Hi, Fun Fact: Housing inventory has decreased 12.5% compared to last month while the amount of homes sold increased by 23.8% Inventory beginning of February: 5,012 Homes sold in January: 1,263 CLICK HEAR TO SEARCH THE MLS

March Newsletter

Hi, HAPPY NEW YEAR!!! There’s a good chance that low inventory and increased demand will begin to push home prices higher very soon. Currently there are only 5,012 homes for sale with 2,587 homes currently in escrow. It seems that almost overnight, buyers have come to realize that interest rates will be higher for the foreseeable future and if they want to own a home, why wait. We aren’t seeing home

February UPDATE

Hi, I hope you and your family are doing well, and you stay on track for all of your New Year goals. I'm not sure if you read our local newspaper the Las Vegas Review Journal, but I had an opportunity to give my thoughts on what to expect this year in real estate market. PLEASE CLICK THE LINK BELOW https://www.reviewjournal.com/homes/homes-columns/real-estate-insights/all-eyes-will-be-on-mortgage-rates-in-20

January Update

Hi, Single Family home prices are down 2.25% in November from October to a median price of $435K. The amount of sold are down 11%. What caught my attention is that inventory is also down 10% now, compared to October. Maybe sellers are taking their homes off of the market or just deciding not to list but lower inventory is a positive sign. Homes are on the market for an average of 33 days before accepting

December Update

Hi, Judging by the buzz on the streets and media outlets, I’d think the housing market was doing worse than what the actual numbers suggest. It’s possible the current statistics are a warning sign, but on average, properties values haven’t declined much since August. In August the median Single-family home was $450K In October it was $445K What is declining is the number of properties sold and in escr

November Update

Hi, I speak to people daily about the housing market and everyone I speak with wants to buy. They’re either ready to buy now, or waiting for the market to crash. I’ll continue to say; until I’m proven wrong that the market isn’t crashing its correcting. Yes prices have come down and we don’t know when they’ll stop, but we can never perfectly time the bottom. Buyers and sellers have to make the right d

September Update

Not sure if you receive the Sunday paper, or read it online but please see the article I wrote for the Review Journal in the link below. https://www.reviewjournal.com/homes/homes-columns/real-estate-insights/this-las-vegas-housing-market-is-correcting-not-crashing-2622579/ I'm extremely grateful to be able to share my views and insights on the current condition of our housing market. I get asked everyday if he

August Update

189% is the amount inventory increased in 3 months since April (that’s a lot). In the past 24 hours, 214 homes hit the market, 98 sold, and 132 homes went into escrow.. Let’s be clear, increased inventory is a GOOD THING. The housing market is sprinting to a better supply demand ratio were inventory is now equal to a 2-3 months’ supply of homes. We’re witnessing a wild swing of the pendulum away from t

July Update

The market is reaching a turning point in which price reductions are more common, and where buyers have more options. Since my last newsletter in mid-May, available single family home inventory jumped 36%. Higher inventory will eventually result in growing pressure on home prices. And though its still relatively early, two things are clear: First, home prices are still rising. They haven’t collapsed, and are no

June Update

Five years ago in April of 2017 the average sales price was $250K. I can remember a number of people telling me they weren’t buying at the top of the market and they’ll wait for prices to come down. Those people are still waiting and kicking themselves in the butt. Whenever a person purchases real estate, it’s always at the top of the market. That’s the beauty of our economy and Supply and Demand. Whether

May Update

Will higher interest rates help tame the rising home prices we’ve been experiencing? The Fed definitely hopes so! Raising interest rates helps slow down the economy by making borrowing more expensive. In turn, traditional home buyers, investors and businesses pause on making investments, which leads to reduced economic demand and theoretically reels in prices.We never know what someone’s motivation is to buy a h

April Update

A new record...AGAIN Hi <<First Name>>, 1 out of every 5.5, let’s just say 6 homes on the market today are listed at or above $1M. We’ve been breaking median sales price records every month for almost a year, and while doing market research I noticed how the number of million-dollar homes for sale has increased. Speaking of increased, in January th

March Update

Just in case you missed it: Please click the link below to read the article that I had the honor of writing for the Las Vegas Review Journal. https://www.reviewjournal.com/homes/homes-columns/real-estate-insights/getting-tougher-to-buy-a-home-in-las-vegas-2520571/ I had to triple check the statistics today. Not many options for buyers as demand remains high and inventory extremely low. I question if t

February Update