Market Updates

Dec. 29, 2020

Las Vegas home prices continue steady climb despite pandemic

The ongoing coronavirus pandemic has done nothing to quell the upward trajectory of home prices in Southern Nevada.

 

The median price for an existing home in the area was $345,000 in November, according to a report released by the Las Vegas Realtors trade organization today.

The monthly figure ...

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Dec. 22, 2020

Housing Market Crash: Will Prices Crash in 2021?

 

The US housing market is far from crashing in 2020 or 2021. In fact, it continues to play an important supportive role in the country’s economic recovery. Current economic conditions resemble a “swoosh” pattern, with the initial impact from the lockdown followed by a gradual recovery as the economy ...

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Dec. 15, 2020

EVICTION MORATORIUM- EXTENDED AGAIN

Landlords should be asking local attorneys in their city or state lots of questions.

 

No. 2 – Is it better now to use month-to-month leases?

One of the possibilities discussed is whether landlords would be better in this environment to go to shorter leases.

Is it better to continue ...

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Nov. 23, 2020

Housing Market Update: Home Prices Up 15%, Year-to-Date Sales On Par with 2019

Pending sales rose 34% and new listings were up only 9% from the same period a year earlier.

Key housing market takeaways for 400+ U.S. metro areas during the 4-week period ending October 25:

The median home sale price increased 15% year over year to $322,375—the highest on ...

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Posted in Market Updates
Nov. 16, 2020

How to Find the Best Mortgage Rates

How to Find the Best Mortgage Rates

Mortgage rates can change daily, and can vary widely depending on the borrower's personal situation. The difference can mean tens of thousands of dollars over the life of the loan. Here are some tactics to help you find the best mortgage rate ...

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Posted in Market Updates
Nov. 12, 2020

Mortgage Rates

Latest News for NV Mortgage Rates

NEVADA 30-YEAR FIXED MORTGAGE RATES GO DOWN TO 2.94%

Thursday, November 12, 2020

The current average 30-year fixed mortgage rate in Nevada decreased 3 basis points from 2.97% to 2.94%. Nevada mortgage rates today are 3 basis points higher than the ...

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Posted in Market Updates
Oct. 23, 2020

Rentals in short supply in Nevada as thousands face eviction

Affordable rentals are slim pickings in Nevada, at a time when inventories are low for rentals and people are rushing to find rentals. 

The eviction moratorium that ended October 15 created a conundrum: a lack of vacancies, and a lack of housing options for everyone who could face eviction ...

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Posted in Market Updates
Oct. 16, 2020

Late-Stage Delinquencies Now Twice Great Recession Peak

Mortgage delinquencies continued to rise in July according to CoreLogic's new loan performance report. The company found that 6.6 percent of all mortgages were at least 30 days past due (including those in foreclosure.) This represents a 2.8-percentage point increase in the overall delinquency rate compared to ...

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Posted in Market Updates
Sept. 28, 2020

Market Amid Pandemic and High Unemployment

LAS VEGAS (KSNV) — Las Vegas has been hit hard with high unemployment numbers this year, but through all the apocalyptic insanity that came with 2020, area home prices are up nearly 8% in August.

The average price of a home in the Las Vegas metro area grew 7.8 ...

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Sept. 23, 2020

Home Prices Amid Pandemic

The median sale price of an existing home in Southern Nevada hit $335,000 in August, a new record, according to the Las Vegas Realtors trade organization.

The previous record was $330,000, which was set in July.

The rising prices have come despite the coronavirus pandemic, which has battered ...

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Posted in Market Updates