Nevada real estate, home buying and selling
Published: Saturday, January 26, 2019 written by Drew Jackson
as it just turns out there is over 400 homes coming onto the market in the next year. what does that do to the local economy? supply versus demand. well, the demand was there, the ratio of selling to buying was 1.5 to 1. Now that we are in the peak of the selling window, and in winter time, there are some deals to be had.
while some homes over a year ago were on the market for 1-2 months that were over $300k, those that were priced $250k or less would be on the market less than 2 weeks. Now that a year has passed, all the $200-300k are gone for the most part, and only the $300-450k are immediately available. there are some on both sides of that range, but for the most part, the new range stays on the market depending on the location 1-2 months or less.
looking forward into 2019, the prices will rise going into spring and summer, and will plateau at the end of summer again, and then pull back in fall and winter.
will that be a good time to sell and buy? it depends, depending on your location: a sellers market in the outskirts, and a buyers market on the inner areas.
will this be a new bubble, probably not this time around like it did in 2002-2008.
Nevada has a finicky way of cycling every decade for good or bad, just like the tide. when the tide comes in, some great things will occur and also bring in some bad actors. when the tide goes out, who hangs around will be left high and dry. the vultures, I call them, those that made money when it came it, will make money when it goes out.
more to come...
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