Where real estate is headed in 2020 in Las Vegas might both surprise and excite you if you’re interested in purchasing a home. Predictions show that 2020 is a good year for the Las Vegas real estate industry, and that is a great thing to keep in mind!
Even though the market is moving steadily in a slightly horizontal direction and not showing concrete signs of rapid growth, the highlight of 2020 is the low interest rates, which are attractive for many buyers!
If you are up to date with everything that is happening in Las Vegas and where real estate is headed in 2020, then this might not be surprising for you.
Where Real Estate Is Headed In 2020
Before we get to the point, you may have heard or read that there is a possibility for a recession in 2020.
In 2019, that was what several experts said. But that shouldn’t scare the real estate industry because the cause will not be housing but other factors, such as:
- Trade policy
- Stock market
- Geopolitical catastrophe
Housing may have been the root of a previous recession, but that doesn’t seem to be the case for the next. In fact, in 2020, it has been said that there will be slight improvements in the Las Vegas housing market.
According to the forecasts of where real estate is headed in 2020, the growth will not be impressive, but the changes are expected to be positive, both for the buyers and the sellers, and that’s something that should delight you.
In addition, it is said that the growth will not be faster, but the market will still be stable, and that is better than dealing with any sort of decline! A stable market is a healthy market.
The interest rates, moreover, will remain low. Lower interest rates should excite you because it means that the houses can be bought without having to put a hole in your pocket.
These are the basic reasons that experts forecast that there will be an increase in sales for the Las Vegas housing market in 2020. The number of houses that will be sold will not be significantly higher compared to that of 2019.
Although statistically, Millenials are buying homes later in life than previous generations, they are still the ones who will make up the largest group of buyers of houses in 2020. Millenials don’t rush into achieving major life accomplishments, like buying a house, and that is said to be a factor that affects the housing market.
Regardless, these are just predictions. By the end of 2020, the real estate industry might boom—no one knows what the future holds.