Las Vegas Real Estate Spring Forecast -The Las Vegas market has been busy busy this Spring season. We are still low on inventory and prices continue to increase, this is an ideal climate to list your house for sale! If you are a buyer you need a realtor that is a strong negotiator to get you the best deal. There is low supply and high demand from buyers in the current market. Now is the time to get into the market!
Now, Freddie Mac has doubled down on that claim and is saying that 2016 will be the best year that the real estate industry has seen in a decade. In their March Housing Outlook Report, Freddie Mac explained:
“Despite the challenges facing the housing market, we expect this to be the best year for housing in a decade. Home sales, housing starts, and house prices will reach their highest level since 2006 according to our latest forecast…Challenges remain, with low housing supply and declining affordability being a key concern in many markets, but on balance, the housing markets in the U.S. are poised for the best year since 2006.”
The key indicators that have given Freddie Mac such a positive outlook are:
- Low interest rates
- A resilient labor market
- An increase in household formations
- A projected increase in newly constructed homes
2016 looks to be shaping up as a great year for Las Vegas and Henderson real estate. Whether you are thinking of buying or selling, we should meet up to discuss the new opportunities that are arising in your market.