Las Vegas Homes For Sale War

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Las Vegas Homes For Sale - War! Buying a home in today's market has become increasingly difficult, especially for first time homebuyers. Home prices and interest rates are near record highs making affordability more challenging than ever. In popular cities like Las Vegas, there are now just over 5,000 Las Vegas homes for sale, which is a 50% increase from this time last year but the median prices of all Las Vegas homes for sale are now at record highs reaching $485,000. The reason why the current amount of Las Vegas homes for sale has surged is due to many out of state wealthy buyers, mostly from California who earn higher incomes and have more assets compared to Las Vegas residents. As a result, local buyers are struggling to compete and many are waiting for a housing crash to buy even though there is no data to support that will happen as demand continues to outpace supply. Long term, home prices, especially any of the now available Las Vegas homes for sale, are only expected to rise as inflation persists, making everything, including housing, more expensive. The cost of Las Vegas homes for sale will continue to climb, putting average-income earners at a permanent disadvantage. Meanwhile, current homeowners and high income earning individuals will maintain their financial edge, further widening the gap. While some attempt to time the market, the reality is that inventory remains tight, and Las Vegas homes for sale are unlikely to drop significantly in price. Saving for a home has become a financial war for first time buyers, even in once affordable cities like Las Vegas where Las Vegas homes for sale are now out of reach for many aspiring buyers. As long as demand outweighs supply, affordability will worsen. Ultimately, the advantage will always belong to those who already own property or have higher earnings and assets. If you are thinking of buying a home, especially any of the current Las Vegas homes for sale, make sure you can comfortably afford to do so and plan to hold onto the property for several years. • 🚨 Subscribe to this channel here: 👇👇👇👇👇👇👇 • / @lasvegasliving9237 • If you are going to be living in Las Vegas Nevada then this is the channel for you! We tell you what it's like to move to Las Vegas and make videos about Las Vegas real estate every week. We work with clients from all over the U.S. that are relocating here and we ABSOLUTELY LOVE IT! Reach out to us day/night/weekends if you are moving here. We've got your back when moving to Las Vegas. • Jerry Abbott • NV License # S.0183274 • Summit Properties • 📲 Text: 702-550-9658 • 📲 Email: [email protected] • 🚨 Subscribe to this channel here: 👇👇👇👇👇👇👇 • / @lasvegasliving9237 • Learn more about Las Vegas, Nevada here: • ✅ https://en.wikipedia.org/wiki/Las_Vegas • ✅ https://VisitLasVegas.com • ✅ https://www.LasVegasNevada.gov • ✅ https://vegas.eater.com/ • All media clips and articles are publicly available information unless otherwise noted. • DISCLAIMER: This video content is intended only for informational, educational and entertainment purposes. Neither Las Vegas Living or Jerry Abbott are registered financial advisors. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. Your use of Las Vegas Living's YouTube channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, YouTube, E-mail or SMS) for communications with Las Vegas Living does not establish a formal business relationship.

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