Over the past couple of months, housing inventory across Las Vegas, Henderson, and North Las Vegas has increased more than many people realize. This shift has become especially noticeable since Thanksgiving.
In several neighborhoods, the number of homes currently for sale has more than doubled in a short period of time. In one example, a neighborhood that had roughly five or six homes for sale in late November now has eighteen active listings. That type of increase is not isolated and reflects a broader market pattern.
There are a few key reasons this is happening. First, many sellers waited through the holidays and listed their homes once the new year began. Second, higher interest rates have slowed buyer activity, which means homes are staying on the market longer. When homes do not sell as quickly, active inventory builds even if sales activity remains steady.
Seasonally, inventory usually starts rising in January, but this year the increase has been more pronounced. Buyers are being more selective, and sellers who are priced too aggressively are seeing longer days on market or price reductions. As a result, neighborhoods are showing more choices for buyers than they did just a couple of months ago.
What this means depends on whether you are buying or selling. Buyers are gaining leverage through increased selection and less competition. Sellers need to be realistic on pricing and presentation if they want to stand out, especially as inventory continues to build.
The Las Vegas market is not crashing, but it is clearly shifting. Inventory growth since Thanksgiving is one of the strongest signals that the market is moving toward a more balanced environment. Staying informed and adjusting strategy accordingly is critical in this phase of the cycle.
For personalized guidance on how this inventory shift affects your specific neighborhood or situation, visit www.firstfullservicerealty.com or call 702-373-9939. Ask for Ruchelle!
