A Burst Is Needed To Get The Vegas Market Back On Track

A huge burst was needed after this past summer when prices for new home and condos soared, despite a decrease in demand. The past few years the real estate market has shown rapid appreciation and a rise in mortgage rates that has affected the home buyer’s ability to finance and purchase their new home.

Because of this, pressure was being felt in the housing market due to rising mortgage rates. When interest rates rise, homebuyers become financially exhausted. This is a major contributor to why sales tumbled in the Las Vegas market.