The Las Vegas housing market has cooled off in recent months, with home prices down about 2% year-over-year. This is due to a number of factors, including rising interest rates, inflation, and a decline in demand from investors.
Despite the recent decline, the Las Vegas housing market is still considered to be a buyer’s market. There are more homes for sale than there are buyers, and homes are taking longer to sell. This means that buyers have more leverage and can negotiate better prices.
If you are a new homeowner in Las Vegas, there are a few things you can do to help protect your property value. First, make sure your home is well-maintained. This includes keeping the exterior clean and free of clutter, and making repairs as needed. You should also keep your yard well-maintained and landscaped.
Second, consider making some upgrades to your home. This could include things like adding new flooring, painting, or upgrading the kitchen or bathroom. These upgrades can add value to your home and make it more appealing to buyers.
Finally, stay up-to-date on the latest housing market trends. This will help you understand how the market is changing and what you need to do to protect your investment.
Here are some of the reasons why property values in Las Vegas have decreased in recent months:
- Rising interest rates: Higher interest rates make it more expensive to borrow money, which can dampen demand for homes.
- Inflation: Inflation is driving up the cost of living, which can make it more difficult for people to afford a home.
- Decline in demand from investors: Investors have been a major force in the Las Vegas housing market in recent years, but they have been selling off their properties as the market has cooled.
If you are a new homeowner in Las Vegas, it is important to be aware of these trends and to take steps to protect your property value. By keeping your home well-maintained and making some upgrades, you can help ensure that your home retains its value or even increases in value over time.
Here are some additional tips for new homeowners in Las Vegas:
- Get pre-approved for a mortgage before you start looking at homes. This will give you an idea of how much you can afford to spend.
- Work with a qualified real estate agent who can help you find the right home for your needs and budget.
- Don’t be afraid to negotiate the price of your home. The market is in your favor right now, so you should be able to get a good deal.
- Be prepared to act quickly. Homes are selling quickly in Las Vegas, so you need to be ready to make an offer as soon as you find a home you like.
Your Most Trusted Las Vegas Mortgage Broker
Aquino Capital Group, powered by Nexa Mortgage, is a trusted mortgage broker in Las Vegas that can help you with all of your home buying needs. We offer a wide variety of mortgage products, including conventional loans, FHA loans, VA loans, and USDA loans. We also have a team of experienced mortgage loan originators who can help you get the best possible mortgage rate and terms.
Aquino Capital Group is committed to providing excellent customer service. We are available seven days a week to answer your questions and help you through the mortgage process. We also offer a variety of resources to help you learn more about the home buying process.
If you are looking for a trusted mortgage broker in Las Vegas, Aquino Capital Group is the right choice for you. We will help you make your dream of homeownership a reality.
Here are some of the benefits of working with Aquino Capital Group:
- We have a wide variety of mortgage products to choose from.
- We have a team of experienced mortgage loan originators.
- We are committed to providing excellent customer service.
- We are available seven days a week.
- We offer a variety of resources to help you learn more about the home buying process.
If you are interested in learning more about how Aquino Capital Group can help you with your home buying needs, please visit our website or give us a call at (800) 846-0729 today!