For many, the New Year represents a time to reflect on the previous 12 months and to establish new goals. If buying a home in Las Vegas is on your to-do list, 2015 may just be your year. A recent Zillow economic report predicted a breakthrough year for Las Vegas home buyers - especially first time property owners.
The report cited key economic indicators including income data, home-value appreciation, and inventory, to rank the best markets for 2015. The published report ranked Las Vegas as the number four market for first time home buyers for 2015 – that’s a stark contrast to the previous few years as the market has had its share of turbulence and trouble.
As a Top Realtor in Las Vegas who utilizes local data to best guide clients into making smart decisions, I’m highly encouraged by Zillow’s report. The economic reality is that rent in Las Vegas will continue to skyrocket while home prices level off. That means it’s going to be a buyers market where individuals looking for real estate will find opportunities to buy a great home at a great price.
It’s hard to believe that just a few years ago the average price for a home in Las Vegas was over $320,000. Those same homes are now selling for $200,000. As the Zillow report stated:
“First time buyers who stayed out of the market – either for demographic reasons or because they just couldn’t find the right entry-level home – will have a breakthrough year.” (Zillow)
Other predictions from the economic housing report concluded that rent would continue to outpace home values, builders will construct less expensive homes, and home buyers will have more negotiating leverage. All of those factors lead to one conclusion – if you’re thinking about purchasing a home in Las Vegas, now is the time to act.
Timing is a major consideration for Las Vegas home buyers. Should you wait? Should you make a move? It’s hard to know what to do. As a real estate professional, it is my job to help clients make the best choice. And judging by the local real estate data, 2015 is a great time to buy a home. The numbers don’t lie.
The market has been turbulent for the last few years, but the pendulum is swinging. The economic forecast looks all clear for home buyers to stop paying high Las Vegas rent prices and start building equity in a new home.
The economic indicators are in the home buyers favor, so strike while the iron is hot and get into your dream home in 2015.
For more information or questions about your first steps to buying a home in Las Vegas or selling your home with Leslie please don’t hesitate to contact me by visiting our Las Vegas Real Estate Website or calling me at 702.321.1763.
May 2015 bring you happiness and success!
By Leslie Hoke
Las Vegas Homes By Leslie
8010 W Sahara Ave #150, Las Vegas, NV 89117
Direct: (702) 321-1763 Fax: (702) 224-2146
Premier Realty Group