Are Home Prices Rising Too Fast? Will Home Prices Drop in 2022?
The Las Vegas real estate market has risen almost 30% in the last year and certain segments like median priced single family homes are the fastest growing. There is concern that home prices will drop in 2021 or 2022 and it could leave newer home buyers upside down in their homes. There is also concerns of a crash in the real estate market because of the rapid increase in prices of houses.
There has been speculation that home prices will drop, but when that could potentially happen is not universally known nor are there many people predicting when that could happen. The surge of first time home buyers in the real estate market buying houses as well as the hedge funds buying homes has removed enough properties from the MLS to cause a disequilibrium in the market forces the prices of houses, condos and single family residences to increase in value.
If you have questions please call or email Todd or Oana
Oana Sterlacci-Miller
broker@nvrs.com
702-285-4207
Todd Miller
todd@nvrs.com
702-218-2819