Investor Central

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Friday, April 4, 2014

Homebuyers Getting Priced out in Cities Across U.S.

As shown in the graph below, home prices in the "hottest markets" have climbed substantially in the past year, with Nevada leading the pack at 24.9%. According to Case Shiller, the national average was a 13% climb, and stiff competition from these rising prices has created stiff competition for buyers seeking homes in booming urban markets.
RealtyTrac stated that 35% of all February offers were made in all-cash (a notable 30% increase from the year prior). Paired with the fact that new home construction is still well below normal levels, closing deals in this low-inventory market is tough if you aren't an all-cash buyer. This may also be a smart time to sell if you're an investor with rentals in the LV valley - contact us for a personal consultation!

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