One definition of a “perfect storm” is “an event in which a rare combination of circumstances drastically aggravates the event“
It is our suspicion that we will be experiencing just such an event this spring in the Las Vegas Valley. Of course we are not talking about an actual storm. The climate is far too wonderful here for us to expect an actual storm. We are talking about the combination of circumstances that will lead to this spring being a perfect time to sell your property here in the Las Vegas Valley.
Here are the circumstances:
- Continued historic low housing inventory throughout the valley.
- Continued low interest rates with the concern that they will rise soon
- April and May are traditionally very active months in the housing industry
Take these three circumstances and sprinkle in the fact that the economy seems to be very robust right now in the United States and Nevada, and we are looking at the spring of 2018 being a time that people will talk about in the future as they celebrate selling their property at a high price and in a short period of time. Seller’s are already receiving multiple offers. Prices have continued to rise.
Baton down the hatches. This spring promises to be a wild ride in the local real estate market.