Things Will Level Out

Last summer Las Vegas saw a disastrous problem. Consumers looking to purchase newly constructed homes contended with rising home prices and mortgage interest rates that until recently were continuing to rise.

On top of that the real estate market was facing a low demand for Las Vegas homes while developers were building up to a surplus of newly constructed homes. This also gave fuel to the rumor of a housing bubble.

NAR has said that those fears are not justified and that we will see the local real estate market level out before the end of this year. That's good news for consumers in the Las Vegas area who just sweated out a hot and worrisome summer.