What will 2018 bring to the Las Vegas luxury real estate market?
With the New Year it is time for some predictions. 2017 finished strong with lower inventory and some impressively fast sales at near record prices. With inventory down, stock market wealth up and tax reform we should see a surge of buying activity. I believe 2018 will start strong and be an even better year than a solid 2017 was. Spring usually brings a spike in listing activity but with low inventory and solid demand this should not slow the market. Interest rates are likely to rise; however, most of our luxury buyers pay cash so this will have little impact at the top end. With lot prices and construction costs up more luxury buyers will look to resale luxury homes rather than buying and building. Our only challenge might be lack of quality inventory. Cheers to an outstanding real estate year in 2018!
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