Why This Might Be The Best (Or Worst) Time to Buy a House!
Published: 2023-10-09
Status:
Available
|
Analyzed
Published: 2023-10-09
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Interest rates are predicted to decrease in 2024.
"the rates should be coming down sometime in 2024"
Pending
Las Vegas may transition from a transient city to one with more long-term residents due to new industries.
"For the first time Las Vegas could be transforming from a transient City"
Pending
In major cities like Honolulu, San Jose, LA, or San Francisco, home prices are approximately 11 times the median family income.
"home prices are now roughly 11 times the median family income"
Pending
Despite a decrease in home sales, house prices in the US are higher than expected in 2023.
"home sales are going down but house prices are still higher than where they should be in 2023"
Pending
Nationwide, 13.5% fewer homes were sold in 2023, yet prices increased by 3%.
"we sold 13 1.5% less homes across the country but prices are still up 3% this year"
Pending
In the Las Vegas area, home sales have decreased by 43% since 2021 and are nearly 40% lower than in 2019.
"home sales are down 43% from 2021 and if we go back to 2019 sales are still down close to 40%"
Pending
The median home price in Las Vegas reached $449,000 by the end of September.
"we finished September up at $449,000"
Pending
If prices remain constant for the remainder of the year, the Las Vegas market is projected to close 2023 with a 7% increase.
"if prices stayed flat for the rest of this year the Vegas Market would finish the year up 7%"
Pending
In Las Vegas, with 3,900 homes for sale and 1,600 sold in September, the market would theoretically run out of inventory in 2.5 months if no new listings appeared.
"we had about 3,900 homes for sale in September and we sold 1,600 homes that month and this means that if no more homes were listed for sale and we would continue selling at September's pace of 1 1600 theoretically we would sell out of homes in about 2 and 1/2 months"
Pending
A balanced housing market typically has 5 to 6 months of inventory.
"the average or a healthy balance between supply and demand should be closer to 5 to 6 months of inventory"
Pending
Annual home sales have dropped by approximately one-third, from around 6 million to just over 4 million.
"we went from about six million Homes at an annual Pace down to about a little over four million Homes at an annual Pace that's roughly a third drop in the business"
Pending
Home builders are offering lower interest rates and incentives on new homes to offset higher market rates.
"people are buying brand new homes because home builders can absorb these higher interest rates and offer their customers lower ones or incentives"
Pending
New construction condos and townhomes are being listed for close to $400,000.
"I'm seeing a lot of new construction builds that are condos and Town Homes which are definitely nice but they're also listed for close to $400,000"
Pending
Interest rates are expected to decrease in 2024, according to the Federal Reserve's predictions.
"the rates should be coming down sometime in 2024"
Pending
Las Vegas is experiencing growth due to Formula 1, potential movie industry investments (including Disney), and the addition of professional sports teams (football, hockey, and baseball).
"we're getting Formula 1 this year the movie industry along with Disney is considering building here we now have a football team a hockey team we're getting a baseball team"
Pending
Las Vegas is ranked as the second most popular area for people to relocate to.
"it's also listed as the number two area that people are moving to"
Pending