The Las Vegas housing market is sizzling hot. Home sales are higher than last year's levels, and prices are setting new records. The inventory is declining month-over-month and can't meet the demand. The housing demand is also feeling the pressure as people continue to flock to Las Vegas from higher-priced areas, especially Southern California. According to industry experts, this trend has accelerated during the pandemic setting the highest pace for home sales in the area in 14 years.
Here are the latest housing market predictions for 2021 & 2022. The global pandemic shattered the world order and the US economy suffered its biggest blow since the Great Depression in the second quarter. It has been roughly one year when it put the housing market on hold for several months last spring. Even with rising mortgage rates and higher prices, economists say the housing market should remain strong due to very tight inventories and increasing demand as more millennials are projected to buy houses this year.
The Austin housing market is soaring. With demand up and few houses to choose from, the Austin home prices are soaring and the buyers have to bear the brunt. Its rapidly expanding economic industry is driving more people into the city which is increasing the housing demand. Low inventory, high buyer demand and rising prices will continue throughout the year, creating a competitive market.
Will Denver's housing market continue to be sizzling hot in 2021? The average price for single-family detached homes in the Denver Metro was $674,990 in March. The median price was $560,000, up 15% YoY and 5.66% MoM. Detached homes saw a 27 percent increase in closed sales while attached homes saw an 11.62 percent decrease in closings relative to February, according to a recent report released by the Denver Metro Association of REALTORS®.
We will discuss the latest Houston housing market trends. The Greater Houston housing market recorded its ninth consecutive month of positive sales. It also set a pricing record for single-family homes in February. Home prices are soaring amid low inventory and low-interest rates.
Every housing segment priced at or above $250,000 saw a double-digit year-over-year percentage increase in sales in February. Some buyers are hitting the market to find they can't compete with all-cash offers. In the upcoming spring season, the agents risk having extremely tight inventory for buyers especially with the prospect of rising mortgage interest rates.
