The Real Reason Why New Home Sales are Rising? Housing Market Forecast 2022-2023 Cate CiplakSeptember 30, 2022April 20, 2023 September 30, 2022April 20, 2023 New home sales in August surged in the US 28% which far exceeded analysts expectations in 2022. There are many reasons why new home sales increased, especially in an environment of rising mortgage interest rates and home price declines. One of the reasons new homes increased was buyers are trying to get ahead of rising interest rates. The forecast for the housing market in 2022 and 2023 is for prices to decline until interest rates stabilize and start to fall again. New construction sales rose because new home builders were offering substantial incentives to buyers to close as soon as possible. Also many of these homes were actually placed under contract 9-12 months previously, when interest rates were still low and these buyers had already locked in their interest rate. The expectation for new home sales in 2023 are that they will decline, mostly because new home builders are building less and less new homes because of labor shortages and rising costs to borrow so that they can continue to build new homes. Todd and Oana are real estate agents in Las Vegas and own Nevada Realty Solutions, a boutique real estate company. Todd Miller todd@nvrs.com 702-218-2819 Oana Miller broker@lasvegastodd 702-285-4207 Leave a ReplyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Why the Baby Boomer Silver Wave won’t happen Todd MillerMarch 5, 2024March 5, 2024 Why the Housing Crash hasn’t Happened Yet Todd MillerMarch 5, 2024March 5, 2024 The Myth of the Housing Bubble Todd MillerFebruary 22, 2024March 5, 2024 Pets Buying Houses? Home Buyers Care More About Their Pets! Cate CiplakJune 15, 2023June 15, 2023 Three Tips to PAY OFF Your Mortgage Early! Cate CiplakJune 14, 2023June 15, 2023 Assumable Mortgages: Can you Actually Buy a House with an Assumable Loan! Cate CiplakJune 13, 2023June 15, 2023 Las Vegas Housing Market Update! Crystal Ball Episode Cate CiplakJune 12, 2023June 15, 2023 We Called it. Home Prices Did NOT Crash! Prices Still Going UP! Cate CiplakJune 11, 2023June 15, 2023 Will There Be a RECESSION in 2023? Chance of Recession in Next 12 Months! Cate CiplakJune 10, 2023June 15, 2023 Home Prices UP 20%? Barbara Corcoran Predicts “Home Buying Frenzy” Cate CiplakJune 9, 2023June 9, 2023 $800B Fund Buying Homes in the US: Middle Eastern Sovreign Wealth Fund Cate CiplakJune 8, 2023June 8, 2023 How Many Homes are Free and Clear? Las Vegas Owners vs Renters Cate CiplakJune 7, 2023June 7, 2023 Tips to PAY OFF a Loan Early! Cate CiplakJune 6, 2023June 6, 2023 Las Vegas Real Estate News: June 2023 Housing Update Cate CiplakJune 5, 2023June 5, 2023 Excessive Credit Card Debt Crashes Housing Market? Cate CiplakJune 4, 2023June 5, 2023 How Far Will Home Prices Crash in the Upcoming Recession? Cate CiplakJune 3, 2023June 5, 2023 The TRUTH About The Upcoming Foreclosure Crisis: Will Housing Crash? Cate CiplakJune 2, 2023June 5, 2023 Elon Musk Predicts “Real Estate Meltdown”: Says Home Values will Crash Cate CiplakJune 1, 2023June 5, 2023 Housing Crash CANCELLED: Home Prices are UP 2022-2023! Cate CiplakMay 31, 2023May 31, 2023 Should You Buy a House in 2023 or 2024? Is It a Good Time to Buy a House? Cate CiplakMay 30, 2023May 30, 2023
Why the Baby Boomer Silver Wave won’t happen Todd MillerMarch 5, 2024March 5, 2024 Why the Housing Crash hasn’t Happened Yet Todd MillerMarch 5, 2024March 5, 2024 The Myth of the Housing Bubble Todd MillerFebruary 22, 2024March 5, 2024 Pets Buying Houses? Home Buyers Care More About Their Pets! Cate CiplakJune 15, 2023June 15, 2023 Three Tips to PAY OFF Your Mortgage Early! Cate CiplakJune 14, 2023June 15, 2023 Assumable Mortgages: Can you Actually Buy a House with an Assumable Loan! Cate CiplakJune 13, 2023June 15, 2023 Las Vegas Housing Market Update! Crystal Ball Episode Cate CiplakJune 12, 2023June 15, 2023 We Called it. Home Prices Did NOT Crash! Prices Still Going UP! Cate CiplakJune 11, 2023June 15, 2023 Will There Be a RECESSION in 2023? Chance of Recession in Next 12 Months! Cate CiplakJune 10, 2023June 15, 2023 Home Prices UP 20%? Barbara Corcoran Predicts “Home Buying Frenzy” Cate CiplakJune 9, 2023June 9, 2023 $800B Fund Buying Homes in the US: Middle Eastern Sovreign Wealth Fund Cate CiplakJune 8, 2023June 8, 2023 How Many Homes are Free and Clear? Las Vegas Owners vs Renters Cate CiplakJune 7, 2023June 7, 2023 Tips to PAY OFF a Loan Early! Cate CiplakJune 6, 2023June 6, 2023 Las Vegas Real Estate News: June 2023 Housing Update Cate CiplakJune 5, 2023June 5, 2023 Excessive Credit Card Debt Crashes Housing Market? Cate CiplakJune 4, 2023June 5, 2023 How Far Will Home Prices Crash in the Upcoming Recession? Cate CiplakJune 3, 2023June 5, 2023 The TRUTH About The Upcoming Foreclosure Crisis: Will Housing Crash? Cate CiplakJune 2, 2023June 5, 2023 Elon Musk Predicts “Real Estate Meltdown”: Says Home Values will Crash Cate CiplakJune 1, 2023June 5, 2023 Housing Crash CANCELLED: Home Prices are UP 2022-2023! Cate CiplakMay 31, 2023May 31, 2023 Should You Buy a House in 2023 or 2024? Is It a Good Time to Buy a House? Cate CiplakMay 30, 2023May 30, 2023