Las Vegas Real Estate - Market Update (March 2023): Single Family Homes

This is the March 2023 Market Update for the Las Vegas Nevada Single Family Residential Resale Real Estate market (SFR market). Presented by Justin Miller, co-founder and principal of the Chong Miller Group. At the Chong Miller Group, we help people build wealth through real estate. We are an investor-friendly team helping people buy and sell homes in the Las Vegas Valley.

This video provides an in-depth look at the numbers for Resale Single Family Houses, from pricing to sales. Data is inherently backwards looking (the date describe the activities that occurred during February) - but some of the data present important forward-looking information. While higher interest rates are still impacting Buyers, the are returning. Now Sellers are leaving the market at faster rates. That's supportive for pricing.

Inventory continues a strong down-trend as new listings remain below seasonally appropriate levels - this will lead Las Vegas real estate into new supply-induced price appreciation in 2023. At present, the housing market is operating very slowly - while pricing is surprisingly strong (flat since December '22).

If you would like more information about buying or selling residential real estate in Las Vegas, contact Justin at [email protected] or Jason at [email protected]. We'd be happy to talk over a hot chocolate, or we can simply meet at our offices to discuss your needs.

Justin (Broker - Salesperson, REALTOR, NRED: BS. 0145509.llc) holds a Ph.D. in business from the Stern School of Business, New York University, and over a 10-year period was on faculty and taught MBA and undergraduate entrepreneurship/negotiations at some of the top Business Schools in the nation - including at the USC/Marshall School of Business and the OSU/Fisher College of Business. And for more than 20 years, Jason (Salesperson, REALTOR, NRED: S. 0185696.llc) worked as a management and technology consultant. Justin and Jason each had more than a dozen years' experience as real estate investors before opening their own real estate practice in 2018. Now they offer their knowledge, experience, and expertise to help you in your real estate adventures - whether buying, selling, or investing.

At the Chong Miller Group, we've built our business on the twin pillars of Trust and Technology. Our latest technology platform allows us to offer you a first-rate mobile experience to guide you through the home-search process, the buying process, and/or the selling process.

You can find our app at https://app.kw.com/KWMG4MF (available for both iOS and Android). Our app allows you to search the entire Multiple Listing Service (MLS), whether in Las Vegas or other areas of the US. But better than with third-party apps, you can create and share collections of desired properties and features (with us and with others of your choice), learn about neighborhoods, and be guided through the entire real estate process. The data are customizable, focused, complete, and up-to-date - putting more power and control in your hands than ever before available to the real estate consumer. Create a log-in so our app can connect to you directly, allowing you to always be in touch with your real estate advisors.

Justin is a Navy veteran, and serves as Treasurer for the Las Vegas Chapter of the US Naval Academy Alumni Association. At the Chong Miller Group, about a third of our clients are active-duty military or veterans, allowing us to develop significant insights into the specialized housing and financing needs of military members and their dependents. We also deploy this knowledge more broadly, to help anyone relocating to (or around) Las Vegas, and to gain additional insights for investors.

Whether in the residential areas of the southwest, core, or northwest/northeast parts of the Las Vegas Valley, or the Strip's high-rise luxury condo market, new construction or resale, we're here to help you. In addition to this monthly "Market Update" series of videos, the Chong Miller Group also produces the "Ask the Professor" series (examining economic/social/statistical issues impacting real estate), the "Insights" series (looking at larger macro-trends), and the "You're @Home" series (providing a view to more micro-related issues such as home staging, landscaping, transaction processing, or loan sourcing). There are also occasional supplemental videos to help ensure our clients are fully knowledgeable and always empowered in their real estate endeavors - so keep an eye open for our latest videos.

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Thanks,
https://ChongMillerGroup.com