3 Trends That Help Us Keep Tabs on the Las Vegas Housing Market
You’ve heard the saying that “Knowledge is power” — but here at SMART, we firmly believe that knowledge empowers.
Knowledge empowers people to achieve amazing results — especially when it comes to knowing the Las Vegas housing market. The more you know about the market can have a direct, and positive, impact on your return on investment.
Here are three important trends we study in order to keep tabs on the Las Vegas rental housing market. Understanding these fluctuating trends helps us help you, our clients.
Trend #1: Consumer Spending
Consumer spending is the money spent by individual households on items that are considered durable goods and services. While consumer spending typically includes food and clothing, it is the high-end spending on items like cars, appliances, and electronics that economists track in order to get a bigger picture of the actual state of the economy.
When there is more spending on these things, it indicates to you, the investor, that your property value is increasing.
Trend #2: Property Values
While consumer spending trends are a broader indicator of economic health, local property value trends are a more specific means of understanding what is happening in your neighborhood.
Have property values around your rental home risen or fallen in the past year? Is there an area in your locality that is seeing a spike in investment or development? Or, is there an area near you in decline as a result of issues like higher crime or urban flight?
Knowing these trends is another essential factor for you as an owner in stewarding your rental home.
Trend #3: Mortgage Rates
Mortgage rates are one of the key factors that will determine your success as a real estate investor. A savings of even .25% on a mortgage will mean money in the bank for you.
Since rates fluctuate daily (and sometimes minute-by-minute), it pays to follow the trends weekly and monthly. We also keep an eye on the news. When banking and lending institutions forecast their rate stability over time, they will be considering the effect of tariffs and trade negotiations, the balance of international payments and currency fluctuations, foreign conflicts, immigration trends, and more.
We’re on Top of the Trends
At SMART, we stay informed with all factors relating to the Las Vegas housing market. It’s our goal to give our clients a well-rounded, complete package of superior service and outstanding dedication.
If you’re looking for a great management company that knows the big picture while giving attention to the details, we can help manage your rental home.
Be wise, and make a SMART choice.
Give us a call!