A Strong Economy Leads to a Strong Housing Market and Consumer Spending

As always the most common question we get is,

"Can we sustain these Home Prices?"

Executives from Target, Wal-Mart, Home Depot, Macy's and Lowe's

All reference Strong Employment,  Rising Wages, Consumer Confidence

and the Economy for Boost in Consumer Spending.

As a Realtor, the fact that  Home Depot and Lowe's are doing so well,

tell us that Home Owners are Investing Money into their Homes.

Locally, the Unemployment Rate has fallen to 4.7% 

and Las Vegas has created 28,800 New Jobs in the last year.

https://www.gohansen.com/fine/real/estate/economy/custom/Economy

A Market Slowing Down, a Crash or a Seasonal Trend

This week in the Las Vegas Review Journal the Headline said,

"Las Vegas Median Home Prices 'Slowing down' this Summer"

I also found a Headline from California and Washington State

both with similar comments about their local Real Estate Markets.

So what is happening ?    Is the market turning ?     I wish I knew !!!

On the Graph below, you can easily see that in the past 2 years,

there has been a seasonal trend that starts in August and ends in April.

 We wont know if this is a Seasonal Trend or a Cool Down until next April.

 FYI...  of the approx 11,360 Homes on the Market,

1,450 or 12% are Tenant Occupied and 5,225 or 45% are Vacant.