Las Vegas Housing Market Sentiment – 4th Quarter 2020. LasVegasRealEstate.com is pleased to present the Lied Center for Real Estate’s Survey of Housing Market Sentiment for the 4th Quarter 2020. The Lied Center for Real Estate was established in 1989 by the Lee Business School at the University of Nevada, Las Vegas to foster excellence in real estate education and research.
Overall Housing Sentiment
Brokers from all regions in Nevada hold an optimistic view that the overall real estate market will improve over the next quarter and over the next year.
Within Clark County, Boulder City saw the largest share of brokers that believed the overall real estate market would improve over the next 90 days.
» No brokers that did business in Boulder City believed the overall real estate market would get worse over the next 90 days.
The 90-day sentiment score saw a quarterly increase in Clark County and a quarterly decrease in Washoe County. The 90-day sentiment score is up year over year for all regions.
The share of Clark County brokers that believe now is a good time to sell peaked this quarter at 95 percent.
Las Vegas Housing Market – Pricing
Clark County saw its highest recorded share of brokers that believed home prices would increase in the Las Vegas housing market over the next 90 days and over the next year.
Clark County has seen two consecutive quarters with an increase in the percent of brokers that believe prices will increase more than 5 percent over the next year.
For the second consecutive month, there were Clark County brokers that believed home prices would increase or decrease by more than 10 percent over the next year.
Both Clark and Washoe County saw a quarterly decrease in the percentage of brokers that believed home sales would increase over the next 90 days and over the next year.
On a year-over-year basis, Clark and Washoe County saw a large increase in home sale and home building optimism.
» The most notable increase in optimism came from Clark County home building as less than 30% of brokers surveyed in 2019Q4 believed that home building would increase.
Within Clark County, brokers that did business primarily in Spring Valley were the most optimistic about home sales over the next year.
Las Vegas Housing Market – Rentals
This quarter saw a large quarterly decrease in the percent of brokers from Clark County that believed rental prices would decrease over the next year in the Las Vegas housing market.
» Clark County also saw a large year over year increase in rental price optimism
This was the second consecutive quarter that Clark County brokers indicated that they believe rental prices will decrease more than 10 percent over the next year. These brokers did business
primarily in Henderson.
For the third consecutive quarter, Clark County brokers leaned towards household income decreasing over the next year.
Clark County brokers showed an increase in optimism about the unemployment rate for the second consecutive quarter.
In 2019Q4, less than 50 percent of brokers in Clark and Washoe County believed that the unemployment rate would decrease over the next year.
For the second consecutive quarter, brokers in both Clark and Washoe County leaned heavily towards mortgage rates increasing over the next six months.
» In 2019Q4, brokers held a neutral view on mortgage rates changing over the next year.
About the Survey
The Housing Market Sentiment Survey is conducted every quarter in collaboration with our industry partner, Nevada Realtors. A representative sample of residential real estate brokers from all regions in Nevada are surveyed to gather their opinion of the housing market in locations they operate. This is a forward-looking survey gauging the housing market sentiment in Nevada.
About the Lied Center for Real Estate.
To read the entire report please click on the link: Nevada Housing Sentiment Survey 4th Quarter 2020
For more information on The Lied Center for Real Estate at UNLV please click the link: Lied Center for Real Estate
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