Are Home Prices Rising Too Fast? Will Home Prices Drop in 2022?

Are home prices rising too fast and will they drop in 2022? Todd and Oana discuss the rising trend of home prices in the US as well as in Las Vegas and if there is a comparison to the real estate market crash of 2007-2009. This is only the second time that home prices have risen this quickly in Las Vegas in the last 100 years and it is causing people to panic.

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

Todd Miller

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