Get caught up on what's new and happening in the Las Vegas real estate market this June.
Cash Home Sales on the Rise
It seems that cash speaks the loudest when it comes to buying Las Vegas Real estate this year. In May 2021, 31% of sold homes were purchased with cash, an increase of 15% from May 2020. Cash offers are often preferred by sellers over a buyer using financing. Sadly, this practice is putting a strain on new and middle-class home buyers who may have pre-approved loans and are ready to purchase. A good percentage of the cash buyers are coming from out of state, especially California.
As reported in the Las Vegas Sun: Cash Further Squeezes an Already Tight Southern Nevada Housing Market