[Dom Cobb]

I’m pleasantly surprised to see the housing market be stable for prices and has been quicker to recover in the short term against other markets. I’m guessing that as long as out of state buyers keep coming things should be relatively stable, if we have a second shut down all bets are off but a realistic outlook might be a 5% drop a year from now for prices.

https://www.google.com/amp/s/www.for...-setbacks/amp/

[longviewJoe]

I put slight decrease. I think Vegas will see somewhat of a recession over the next year due to a slowdown in tourism but I don't think real estate prices will plummet as people are still moving there. Both retirees and people able to work remotely will choose to move there for the cheaper cost of living.

[Vic Romano]

Not sure if Northern Nevada is any different, but here in my neighborhood two houses came up for sale and are now "under contract" within 3 days. Prices continue to climb. A couple other houses have been sitting a month or so but aren't nice as the two that sold. I'd say things here have not changed much compared to before the pandemic.

[longviewJoe]

Originally Posted by Vic Romano

Not sure if Northern Nevada is any different, but here in my neighborhood two houses came up for sale and are now "under contract" within 3 days. Prices continue to climb. A couple other houses have been sitting a month or so but aren't nice as the two that sold. I'd say things here have not changed much compared to before the pandemic.

I have heard northern NV has a more diverse economy. Also, it might depend on price points as I have heard lower price points in Vegas sell right away with multiple offers but maybe less multiple offers than 6 months ago!? Lastly, I have heard residential real estate takes a good 6 months to catch up with the economy so perhaps the slip in values is still to come in the 3rd or 4th quarter!?

[Mariza160]

Inventory has definitely dropped compared to pre-pandemic levels.
I also saw a lot of price speculation with properties put on the market
earlier in the year with over-valuations and unrealistic prices. I think
a lot of speculators and even longtime home owners thought they could
inflate prices and cash out due to the new stadium.

I still think the Las Vegas real estate market is fairly attractive compared
to similar housing stock in surrounding states. I think the prices will remain
depressed until the job market and economy improves. I don't think you'll
see a real estate crash though like what happened in the previous recession.

[Prosze]

Originally Posted by Vic Romano

Not sure if Northern Nevada is any different, but here in my neighborhood two houses came up for sale and are now "under contract" within 3 days. Prices continue to climb. A couple other houses have been sitting a month or so but aren't nice as the two that sold. I'd say things here have not changed much compared to before the pandemic.

Same in my neighborhood. When I saw the price one house was listed for I thought no way they'll get that. It went pending in about a week. Good for the rest of us I guess.