Back in August we looked at these same graphs and asked,
If this is a Market Slow Down or a Seasonal Trend.
We can now see that there has definitely been a Slow Down and Home Prices are ping
The next question is now... Why?
Could be a combination of any of several reasons.
Could be that anyone who has wanted to buy already has.
Or, Home prices have gone too High too Fast. Maybe because it's an Election Year.
But probably the main reason is that Interest Rates are at a 7 Year High.
High Interest Rates combined with Higher Home Prices
lead to more Unaffordable Mortgage Payments.
I still think we will see the usual Rise in Prices this Spring as
the Raider's start looking ahead to where they want to live in Las Vegas.
Most likely in Henderson or Southern Highlands near the practice building.