It is taking a little bit longer for homeowners to break even on their investments. Overall, buyers can expect a relatively quick return according to a recent Las Vegas Review Journal article. “Home-sales website Zillow set the Las Vegas Valley’s ‘break-even horizon’ at 1.5 years in the fourth quarter, up from 1.2 years in the same period a year earlier, ” says Review Journal reporter Jennifer Robison.
According to Robison, Des Zillow found that it is much better to buy a house than rent by looking at a number of components, from maintenance costs to home-equity growth. Despite the quick return the majority of people are not buying due to financial reasons.
Although, the housing market is still picking up slightly, according to a recent Vegas Sun article. Median closing rates saw a 6% improvement. Builders were selling one home per week per subdivision in December, as claimed by Home Builders Research President Dennis Smith’s article: “That’s on par with early 2014 and ‘not at any type of record pace’ for the area, but it is a very positive turnaround from the lackluster activity during the last two quarters of 2014.”
New Home Resource helps current and future homeowners with their Las Vegas real estate needs. Please contact a New Home Resource Realtor® today at 702-365-1000 or at www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!