The real estate market in Nevada has been growing over the years and the trend is expected to remain the same in 2019. Many people are increasingly investing in the real estate market and the appetite for real estate has only gone up.
Though there are concerns about the national interest rates, on the whole, things are looking good in Nevada.
Home builders have started building more entry-level homes so that more people can own their own homes. The state and the federal Government are also providing different programs to make home buying easy for first-time buyers.
On the other hand, private lenders have, in recent years, started making it easy for home buyers to apply for and secure mortgage loans. This year, the lenders are expected to be more generous. This is especially true for first-time buyers
2019 Real Estate Market Forecast for Nevada
Studies and market trends have shown that the prices have been on the rise for the past few years. For example, last year alone, home values went up by 11.7%.
Currently, the median house value stands at $273,500 on Zillow, and it's sometimes higher on other real estate platforms.
This year, the prices are expected to go higher. Experts predict that the real estate prices will go up by another 8.1% this year.
However, prices vary from one Nevada area to another. On the whole, both sellers and buyers are poised to make good profits this year. Sellers will get better prices and thanks to ever-rising prices, buying now can turn out to be an excellent investment.
As far as prices for 2019 are concerned, home prices in Nevada to be at their highest in the third quarter of 2019. If you're a home buyer and want to buy in 2019, it's best to buy now, before prices start climbing up.
In conclusion, home sellers might just turn out to be the biggest gainers in 2019 if the market trend goes as projected.
The only hitch for sellers is the winter. If you're a seller, make sure that you've sold your home before mid-October. November and December are bad months for a seller and you might have to end up offering discounts or offers to sell your home.
On the other hand, if you're a home buyer and you are in no hurry to buy, you can play it smart and wait for the winter to arrive. You'll find discounts and offers on pretty much every single home on sale.
However, it's important to note that this window is small. Prices will start going up in January. So, if you want to make the most of this seasonal discount, it's best to have an experienced local real estate agent by your side.
You need to see as many houses as possible during this period and a real estate agent's network will really help you.
When Is The Best Time To Sell a House in Nevada in 2019?
According to the Nevada real estate market trend, in 2019, home prices are expected to rise steadily throughout the year. The 3rd quarter is the time when the prices are likely to hit this year's peak. So, if you want the best price, make sure you sell during the 3rd quarter.
However, the summer and spring seasons record good home sales throughout the US real estate market. If you're a buyer, know that there's plenty of competition. The low taxation laws of Nevada attract a lot of investors.
Though the year has started on a low, home prices will go up in the coming months. The forecast shows that the prices, by the end of this year, would have gone up by 8.1%.
The profits are decent at best during this time and you need a good real estate agent to help you maximize profits.
The third quarter will have the best prices but make sure you sell before December or even winter. Don't be stuck with an unsold home in the winter. If you are, avoid selling it in the winter if you can. Wait for the prices to go up again in the next year.
“We buy homes for cash” companies are also a factor to consider as a home seller. They take advantage of a seller's desperation to lure them in. Don't sell your home for less than the market value. Hire a home inspector and a real estate agent to help you determine your house value.
When is the Best Time to Buy a House in Nevada in 2019?
As a home buyer, it's obvious that you want the best deal possible for your dream home, and that should be your focus every time you inspect a house. The Nevada market trends indicate that the 3rd quarter of 2019 the home prices will be very high.
Therefore, you should consider buying a home in the 1st or 2nd quarter of the year. Alternatively, you can wait for the winter season and the December holiday when the home demand goes down leading to drop of home prices in the whole of the United States.
From November all the way to early January the home sales are always low and the home sellers are ready to slash the prices. This is the best time to buy a home if you want to get the best deal.
Check out different home prices in various Nevada cities such as Boulder, Las Vegas, Elko, and North Las Vegas among others. Shopping around will help you find the best deals even when the home prices are generally high.
Again, the window isn't huge here. The best thing that you can do is have an experienced real estate agent by your side who has a lot of contacts. This way, you'll see as many homes as possible in a short duration.
Irrespective of whether you need to buy or sell your home, make sure that you have an excellent local real estate agent by your side. You need to partner with people who will help you navigate the real estate market easily.
These agents will provide you with the best advice as they understand the real estate market perfectly. Also, real estate agents understand home marketing. So, if you're selling a home, agents know how to market, and more importantly, they know whom to market to.
Your agent will also advise you on timing and pricing your house for better sales. If you're a home buyer, the agent will help you locate your dream house. What's more, you agent can also negotiate for the best possible price.
One way to hire experienced local real estate agents is by getting in touch with a Clever Partner Agent. They are full service agents who will help you through every step of buying or selling.
Clever only partners with the very best agents in any given area. This way, you know that the person representing you is amongst the best in the business.