The Las Vegas Real Estate Market for 2018 has been on fire. Realtor.com named Las Vegas as the #1 Real Estate Market for 2018. It is definitely a seller’s market with very little inventory available. Properties are not staying on the market for a long period of time, if they are turn-key and priced correctly. There are instances of bidding wars and paying over appraisal in some cases. This trend seems like it will continue for the next few years. Our city has major construction projects (i.e. the stadium is one project) happening, that will offer thousands of jobs and certainly bring new residents to the valley.
Interest rates are still low and the median home price is around $290,000. There are a lot of first-time home buyers taking advantage of these low rates and making the investment to own their home and not pay rent.
Now is the time to get our there and buy while there are low interest rates. First, get prequalified with a lender. Ask questions about programs. There are some nifty down payment assistance programs available. Next, find yourself an experienced agent or a new agent with a present mentor. You will need someone experienced to navigate the contracts, represent you during tough negotiations, and protect your best interests. Finally, the most fun part, get out there and start home hunting!