Las Vegas Housing

Wow...what a market! My team that I have at Prudential Americana Group Realtors, in Las Vegas, has been very fortunate this year. We have actually done better in this market then we did last year. I think part of that success has to do with finding the best deals for our clients. Right now the inventory on New homes in Las Vegas is contributing to the decline in the market. Builders have built homes that are available with no one buying them. So what do the builders do to sell the homes? They offer all kinds of incentives.... 3% towards closing costs, $50,000 off the prices, free upgrades. I recently helped a client get a POOL built- that's a $40,000 value for FREE. Do you think Sellers can compete with this? NO WAY! So guess where the majority of buyers are going? Until we sell off most of the standing inventory of these builders, we're going to be in a tight spot. When we do sell them, buyer's aren't going to wait 6-8months to build a house, so they'll go back into the resale market and the resale inventory will slowly creep down. Now is the time to buy! You will not see these deals for very much longer.