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Nevada Housing Sentiment Survey Q4’2019

27 November, 2019
Nevada Housing Sentiment Survey Q4'2019

Nevada Housing Sentiment Survey Q4’2019

Nevada Housing Sentiment Survey Q4’2019 – The Lied Institue for Real Estate Studies at the University of Nevada Las Vegas (UNLV) Lee Business School has just released its 2019 Q4 survey on Nevada housing sentiment.  Here are their findings:

Overall Housing Sentiment

  • Over 60% of respondents in each county surveyed believe that the overall real estate market will stay about the same over the next quarter.
  • There is more optimism over the next year compared to the next quarter. Clark County had more respondents with a neutral view over the next year than those with an optimistic view.
  • A high percentage of the real estate brokers surveyed believe that now is a good time to buy and sell.
    » 100% percent of real estate brokers that do business in Mesquite believe now is a good time to buy and sell.
    » 83% of real estate brokers that do business in Las Vegas (Spring Valley) believe now is a good time to buy and sell.

Pricing

  • Clark County (So. Nevada to include Las Vegas, North Las Vegas, Henderson, and Boulder City) saw an equal number of real estate brokers answer that prices would decrease as prices would increase.
    » No real estate brokers that do business in Boulder City or Mesquite believed that prices would decrease over the next 90 days.
  • Over 50% of real estate brokers surveyed in each region believe that home prices will increase by 0% to 5% over the next year.
    » Clark County was the only region where there were brokers that believe prices will decrease over the next year.
  • All real estate brokers that believe prices will go down 5% to 10% in the next year do business in Henderson, Las Vegas, or Summerlin.
    » All real estate brokers that believe prices will increase by 5% to 10% do business in Summerlin.

Volumes

  • Clark County was the only region that had any respondents that believe home sales will decrease over the next year.
    » Nonetheless, 43% of respondents in Clark County believe home sales will increase over the next year.
  • Clark County saw more pessimism in home building over the next year compared to the next 90 days.
    » There were more real estate brokers that believe home building will decrease over the next year than brokers that believe home building will increase.

Rentals

  • Clark County was the only region that had any real estate brokers that believe rent prices will decrease over the next year. All of these real estate brokers believed that prices would decrease by 0% to 5% over the next year.
  • Clark County was also the only region that had any real estate brokers who believe rent prices will increase more than 10% over the next year. All of these real estate brokers do business in all major parts of the Las Vegas metropolitan area.
    » No brokers from any region believe that home prices will increase more than 10% over the next year.
  • Clark County had 8% of respondents state that home prices will increase more than rent prices over the next year. All of these real estate brokers, in Clark and Washoe County, agree that it was a better idea to buy than rent.

Economy

Clark County brokers lean towards the unemployment rate, household income, and mortgage rates going down.

  • The question regarding mortgage rates received the least amount of neutral answers compared to all other questions in the survey.
    » Clark County was the only region that had more real estate brokers believe mortgage rates will decrease than real estate brokers that believe mortgage rates will increase.

About the Survey

The Housing Market Sentiment Survey is conducted every quarter in collaboration with our industry partner, Nevada Realtors. A representative sample of residential real estate brokers from all regions in Nevada are surveyed to gather their opinion of the housing market in locations they operate. This is a forward-looking survey gauging the housing market sentiment in Nevada.

About the Lied Institute for Real Estate Studies

The Lied Institute for Real Estate Studies was established in 1989 by the Lee Business School at the University of Nevada, Las Vegas to foster excellence in real estate education and research. Through partnerships with business and community leaders, the Lied Institute strives to improve real estate business and effective public-policy practices in Southern Nevada. The institute produces relevant and timely real estate research, supports educational programs in real estate for students and professionals, and provides community outreach and continuing education.

To read the entire Nevada Housing Sentiment Report for 2019, Q4, please click on the link: Nevada Housing Market Sentiment Report Q4’2019
For more information on The Lied Institute for Real Estate Studies at UNLV please click the link: Lied Institute for Real Estate Studies

Thank you for reading our post, “Survey of Housing Market Sentiment Q4’2019.”  For more Las Vegas real estate market news, rentals, rental market data, information on homes for sale, information on commercial real estate for sale, or general real estate information, please visit our website www.lasvegasrealestate.com.

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