The housing market has started off much stronger this year than it did last year. Lower mortgage interest rates have been a driving factor in that change. The average 30-year rate in 2019, according to Freddie Mac, was 3.94%. Today that rate is closer to 3.5%.
The real estate market is expected to do very well this year as mortgage rates remain at historic lows. One challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report showing that 2020 is beginning with the lowest available housing inventory in two years. The report explains:
With a low inventory of homes available for sale and strong housing prices, now could be a great time to sell your Las Vegas home. But, a quick sale is never a sure thing. To increase your chances of capitalizing on a seller’s market, you need to do your research.