Slide 1: Mortgage defaults spike in Las Vegas, hitting east 89121 and historic west 89108. Slide 2: Nearly 25% of all 2022–2025 defaults happened just in early 2025. Slide 3: March set a record with 235 mortgage default notices in one month. Slide 4: Rising living costs and softening wages push homeowners closer to financial risk. Slide 5: New...
New homes are currently selling at a discount to existing homes, a rare trend not seen in 25 years. In June, new homes were priced about 6.5% lower than existing ones, partly due to builders offering incentives and smaller floor plans. This inversion is driven by builders' motivation to sell amid high inventory, while existing home sellers remain reluctant to lower prices. This raises questions...
Slide 1 Luxury homes in Las Vegas surged 40% year-over-year—more choices than ever before! Slide 2 Buyers now enjoy more negotiating power with less competition than Hawaii’s crowded market. Slide 3 Average homes sell in 30–45 days, while luxury listings take 4–6 months. Slide 4 Southern Nevada luxury starts at $1M, offering double the...
The best time to list a home is spring or summer, especially May, with Thursday being ideal for listing. Fix safety issues and enhance curb appeal with low-cost updates like painting and new fixtures. Avoid expensive renovations. Price your home based on size, condition, and local market trends, using recent comparable sales as a guide. Monitoring interest rates and local market conditions is crucial for...
Expect a slight price drop through 2025, with a small decline of about 0.4% from May 2025 to May 2026. A rebound may come in 2026 as mortgage rates ease and buyer demand grows. Population growth and new projects will support long-term housing demand. Watch for risks like rising insurance costs and possible overbuilding in some areas....
The U.S. housing market is slowing nationwide as builders cut prices and buyers hesitate amid high mortgage rates averaging 6.58%. Over 25% of sellers reduced asking prices in June, with builder confidence and buyer traffic at historic lows. Home sales are dropping in key states, and economic uncertainty is causing buyers to delay purchases. Without significant rate relief, sellers must lower...
Median single-family price: $485,000 in July, matching record high and ↑1% YoY. Inventory surge: single-family ↑54%, condos/townhomes ↑77% vs. last year. Home sales ↓5.8% (single-family), ↓11.6% (condos/townhomes) YoY; 2,568 properties sold in July. Market cooling: nearly 4-month supply now, up from just over 2 months last year. Condo/townhome median:...
As summer ends, the housing market faces mixed signals: shelter costs rose 3.7% year-over-year, while market rents fell 2.5%, indicating a lag in inflation relief. Mortgage rates dropped to 6.58%, but most homeowners have rates below 6%, limiting turnover. Home prices remain steady nationally, with rising listings and inventory. Luxury markets like Las Vegas see increased high-end listings and price...
Nevada will enact the Uniform Mortgage Modification Act (UMMA) on October 1, 2025, providing clear legal standards for mortgage modifications, especially regarding lien priority. The UMMA offers safe harbors for common modifications, ensuring lien priority is preserved without recording requirements. This reduces transaction costs and legal uncertainty, encouraging beneficial loan modifications and...
The Las Vegas housing market in 2025 shows resilience with a 2.1% year-over-year median home price increase to $485,000 despite a 7% sales decline and a 70% rise in inventory. New construction prices hit record highs, but sales and permits drop. Forecasts predict a slight price dip in 2025, followed by potential growth in 2026. Las Vegas's growing population, diversified economy, and major...
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