According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today.
If you’re looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search.
Early Signs Inventory May Be Growing
The latest data from Las Vegas REALTORS® (LVR) shows the number of listings coming onto the market, known in the industry as “new listings,” has increased since the start of the year (see graph below):
We had more homes available for sale in Las Vegas than we had the previous month and the previous year. By the end of April, LVR reported 2,441...
When it comes to mortgage rates, it’s all about perspective. Even with mortgage rates rising, buyers can still secure a rate that’s lower than several of the past decades. But experts forecast rates will continue rising, so acting soon may be your best bet. Message us so we can discuss how rising rates should factor into your homebuying goals.