April 2019: Residential Real Estate

Houses are remaining in the market much longer. The sales of the houses and condominiums decreased as compared to previous months. A decrease in sales and a reduction in the price of the houses are also foreseen this new quarter.

According to Greater Las Vegas Association of Realtors’s President Janet Carpenter, home prices have been going up faster over the past year than almost anywhere in the country but it has been slowing down lately. She also added that there are signs that Las Vegas may see a slower spring selling season from the previous years.

Cash buyers and investors are still prevalent in the housing market because 26.2% of local properties sold in February 2019 were paid in cash. It was 32.4% the previous year.