Market Watch Report - October 2017
Happy Holiday season!
Opportunities abound as many of our colleagues are lured into “holiday hibernation” and shut down their businesses until January 2018. Cheers to you getting your share during the remainder of 2017.
Regarding the numbers…..more of the same. Inventory is very low and shrinking again. Sales are up compared to this month last year by 13% despite having 30%+ less inventory this year compared to last. Again, demand is still strong.
Recently read an article in “The Sunday,” a publication by Greenspun Media, Inc., regarding the state of the Las Vegas real estate market. Thought it was interesting. Here is the link: http://digital.greenspunmedia.com/i/897055-2017-11-05-the-sunday-las-vegas/11.
Also, Zillow’s recent analysis of the top 30 cities suggested that Las Vegas will see the greatest home price appreciation over the next 12 months (from September 2017 to September 2018)—5.9%. See the previous 12 months (August 2016 to August 2017) realized an 8.6% appreciation (according to Case-Schiller numbers). A plateau may be on the horizon……In 2018? Probably not. In 2019? Possibly. Isn’t it all pretty much a guess anyway? My bet/guess is July 24, 2019. What’s yours?