Las Vegas Homes For Sale - Dying! Many homeowners are considered "house poor" because of shockingly high home prices, interest rates and relentless maintenance costs. This is especially true in popular cities like Las Vegas where the median income is nearly eight times lower than any of the thousands of median priced Las Vegas homes for sale. With now over 6,000 Las Vegas homes for sale, the market is changing slowly but steadily. While condos and townhomes are at record highs and the growing number of Las Vegas homes for sale are just shy of record high prices, many aspiring homeowners in Las Vegas and around the country are feeling strapped for cash, forcing them to spend most of their income on mortgage payments, with little left for other expenses. The median price of the surging supply of Las Vegas homes for sale stands at just over $479,000, just $2,000 shy of the record. Regardless if it's any of the new Las Vegas homes for sale or resale homes, demand is dropping, inventory is surging which is now leading to more price reductions and more Las Vegas homes for sale being sold far below the original asking price. According to data from popular real estate websites like Zillow, there are many Las Vegas homes for sale, and buyers are becoming more cautious. The overall real estate market, once highly competitive, is now dying down, with Las Vegas homes for sale increasingly selling for less than the original list price. With the potential for economic turmoil on the horizon, buying a home, especially any of the current Las Vegas homes for sale should be done so by making a lower than original asking price offer or to just exercise patience until home prices potentially fall further.

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Jerry Abbott
NV License # S.0183274
Summit Properties
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📲 Email: jerry@jerryabbottrealty.com

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