Is It Easier To Find a Home To Buy This Spring?

buy now wait spring 2024 seevegashomes

One of the biggest questions we're getting these days from potential buyers, "is it easier to buy a home this year?" 

Majority of homebuyers have struggled the past few years with such low inventory. Paying over appraisal, waiving appraisal contingencies, etc...not something to miss!

It hasn't helped that Homeowners who normally would be selling appear to be staying put and holding on to their low mortgage rates, preventing more listings from coming on the market. One positive this Spring...although our Las Vegas Active Home Inventory is still trending near all-time lows (down -47.9% from 2019) - New listings in Las Vegas (February 2024) are up 14.4% year over year. We hope this wil continue! Rates have been trending under 7% and if the Fed follows through we may have a few rate adjustments this year. 

This Spring, our homebuyers are receiving the best incentives purchasing new construction with homebuilders being more flexible with contributions - offering $ towards buying down interest rate, $ towards closing costs, $ towards upgrades. You will normally get the best incentives on new homes for standing inventory. This is a big shift from 2021 when homebuilders had waiting lists and minimal incentives. Resale homes that are pretty, move-in ready, priced well may still generate multiple offers, so buyers are more unlikely to receive contributions from sellers on these homes. 

If you have any questions about our current market - buying or selling - please don't hesitiate to reach out! 

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