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Las Vegas real estate market update – August 2015

Many indicators continue to remain positive for the housing market across the country. Nearly 53% of buyers are first-time home buyers due to many kids moving out of their parents homes now that the job market has stabilized. Las Vegas, Summerlin and North Las Vegas will continue to prosper going forward as our housing demand here remains strong even with tighter lending standards.

The millennial generation is just starting to purchase their first homes. Year over year the existing home sales continue to increase monthly due to current home buying demand. Foot traffic, which is a strong indicator of future sales, continues to also increase. Many experts feel this demand is due to the fact that experts believe interests rates will continue to rise in the future.

 

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