Real Estate Prediction: 2019 is going to be a good year for the valley
LAS VEGAS (KSNV) —
Anyone looking to sell their valley home in 2019 will be excited to hear what Zillow, the real estate giant, has to say.
The popular real estate website is predicting a rise in home values and mortgage rates as well.
Local real estate agent George Kypreos agrees, saying, “2019 is going to be a good year for Las Vegas. 2018 was fantastic. We had a 15 percent appreciation. 2019 will be half at seven percent.”
For homeowners looking to move or sell, it’s good news for the second year in a row.
2018 brought dramatic increases in home value.
Demand was so high that there was a crisis in supply.
Simply put, there weren’t enough homes to sell.
New construction has changed that.
“We’re up to about 7,500 homes on the market, so in the summer, it was tough to buy a house. Open the market, and make it fairer,” says Kypreos.
It still means the first-time home buyer is going to pay a premium as Las Vegas continues to be the destination for families looking to put down roots.