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Buyer or sellers market?

Is it a Seller's or Buyer's Market?

Las Vegas Market Update
May 18, 2023•2 min read

Are we in a Buyer or Seller's Market?

With the housing market on a constant roller coaster the last two years, one of the questions I hear frequently is are we in a buyer’s or seller’s market?

 So, what is the current status of the market? 

According to the National Association of Realtors, the housing market is currently in a seller’s market due to the low supply of homes on the market.

But what does that actually mean and why are conditions so good to list your home today?

 It has to do with the absorption rate. With the current low inventory, today we have 2.5 month supply of homes on the MLS. Historically a 6 month supply is a “normal” or “neutral” market which means there are enough homes available for active buyers.

If we were in a buyer’s market, there would be an excess of inventory, and more homes on the market than buyers. As a seller when there is a low supply of homes, you are in a better position to get the terms you want on the sale. 

As a buyer, it can be harder for you to buy  at the terms you need due to the increased competition. This can create the multiple offer scenario we all became familiar with in 2020 and early 2021.

 According to National Association of Realtors Chief Economist, Lawrence Yun and I quote "Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of properties.” 

With that said, there are still buyers who are ready, willing, and able to purchase a home and if you list your home right now, these favorable conditions will help you get the most from your investment. 

Of course, I dont have a crystal ball to see how the year plays out, so if you are thinking of either buying or selling, please reach out to me  so I can help strategize your next move.

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Allison Miller

I have been licensed since 2017 and my number 1 value is Customer Service. I want to ensure my clients are comfortable and have no unanswered questions. I am Veteran's Certified and a Military Relocation Professional.

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