March traditionally kicks off the strongest real estate selling season in our Las Vegas valley. The daily sunshine we’re all accustomed to is here to stay, daylight savings time has begun, and more qualified buyers will be out and about viewing available homes. Here are some thoughts on market conditions for the coming months…
The resale luxury home market picks up steam now and continues strong through July. Sales then begin to taper off at the end of August as we head into fall. It takes time to get your home prepared, on the market, and sold for top dollar. If you’re serious about selling your home this year, March is THE month to call us and get started.
Interest rates are still incredibly low now, but The Federal Reserve continues to advise that interest rate hikes are coming, with possibly up to three increases this year alone. The Fed’s greatest fear is inflation – both real and imagined. The policymakers hedge against inflation by raising interest rates. Obviously this will reflect in higher mortgage interest rates. When interest rates go up, home values are affected because there are less total potential buyers that qualify for the more expensive houses.
We may be in an asset bubble. As our S&P 500 graphic in this issue shows, the stock market is currently over 50% higher than with the previous bubbles. I’m a high-end residential real estate expert, not a macro economics professor, but The Fed has been priming our nation’s financial pump for numerous years and it will not continue forever. Here’s the best advice I can give you on any form of bubble: It’s always better to get out a bit early rather than too late.
We specialize in 43 guard gated and select gated communities in Summerlin, Las Vegas and Henderson. You can benefit from my 14+ years of experience in luxury residential real estate. Please contact me at 702-605-7480 and I’ll be pleased to explain precisely how we can help you.