Low Housing Inventory Creates Seller’s Market

As the Las Vegas housing inventory continues to decline sellers find it’s the right time to sell their homes. With dwindling inventory the average sales prices for residential real estate properties have continued to rise. Home owners previously on the fence have decided to put their homes on the market with Windermere Anthem Hills before this window of opportunity closes.

Why Sell Your Home Now?

The Las Vegas housing market has recovered from the crash almost a decade ago, and most home owners that purchased a home during real estate peak have seen their home values rise to, or above, their purchase prices. This means that home owners that were under water for many years may now have equity in their homes. As their needs have changed in the last decade, now is a great time to change their homes along with them. Moving into a larger or smaller home means selling their existing home first.

How Long Will Tight Inventory Continue?

While no one can say with any certainty how long the real estate inventory squeeze will continue there are a few considerations that home sellers should keep in mind. Home buyers with families are working hard to get into a new home before the school year starts at the end of August. Real estate investors are renting more of their foreclosure flips, as opposed to putting them back on the market and selling them in previous years. And mortgage rates are near record lows, which places pressure on potential home buyers to make a purchase soon.

If you are considering selling your home, now is a great time to speak with the professional real estate agents at Windermere Anthem Hills.

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