As housing inventory in the resale market continuing to fall nationwide, including Las Vegas, the stress it creates for buyers rises in the opposite direction.
“The most desirable homes are only on the market for a brief time and often several buyers are bidding on the same property,” says Jennifer Graff of Las Vegas New Homes Experts. “That’s why everyone looking to purchase a home right now should consider buying new. You won’t have fight over your dream home because there’s so much to choose from in today’s market.”
Below are three reasons why you’ll be immune from the low-inventory bug if you choose to buy a new home.
Hundreds of New Neighborhoods in Development
There are currently over 260 new neighborhoods in development and that number continues to grow. Summerlin is building out new villages and more master planned communities, like Inspirada, Providence, and Skye Cannon are now online.
Builders Are Optimistic
According to the National Association of Home Builders, confidence in the housing market is still at the highest levels not seen in over 10 years.
“The fact that the HMI (Housing Market Index) measure of current sales conditions has been over 70 for five consecutive months shows that there is continued demand for new construction,” said NAHB Chief Economist Robert Dietz in a recent association news release.
The HMI has measured builder confidence for over 30 years and any score over 50 means more builders consider market conditions to be “good” rather than “poor.” The HMI for the West rose a point to 77 this past month.
Las Vegas Has Hit the Jackpot
With the Raider’s move to Las Vegas recently approved by the NFL, they will join the NHL’s Golden Knights as Vegas’ second professional sports franchise. Coupled with continued growth along The Strip and elsewhere all though the valley, all signs point to another economic boom.
No time is better than now to consider buying a new home. Contact us today to arrange an appointment.