Californians are Keeping the Las Vegas Market Hot

Guest Blog By: Lisa Roberts

An interesting fact that’s caught the eye of many real estate geeks is that the Las Vegas housing market continually stays hot. Nothing seems to phase it in the slightest. Not even the virus that’s taking the world by storm, one couch potato at a time, managed to weaken this ever-thriving place. This is all partially, but largely, thanks to an influx of Californians that are eagerly making their escape. They are, of course, running from high taxes and stringent COVID-19 restrictions. Let’s take a look at how Californians are keeping the Las Vegas market hot, as well as what that entails further down the road.

The Las Vegas market during the pandemic

The market in Las Vegas has stayed very hot during the pandemic. However, as you’re probably aware, this wasn’t the case over the last couple of decades. By the end of the previous year, the Southern Nevada market was at the peak of a boom. Even though the world and Las Vegas have been struggling with more than one set of problems, the market is hotter than it has ever been before. The homes are selling at record prices.

Of course, the Las Vegas market hasn’t been this hot from the beginning of the pandemic. It initially shut off for a while. Plenty of purchases that had been set in motion simply fell through. Both luckily and surprisingly, this only lasted for a couple of months. And then the market went in the direction that nobody expected. Plenty of people started selling their Las Vegas homes, and others, predominantly Californians, started purchasing them. The market accelerated and reached new heights.

One of the biggest reasons for this was the significantly lower prices than just a year ago. It has let people stretch their budgets and make their offers more freely. This has also led to a lot of more significant home purchases (over a million), making the Las Vegas market even hotter.

Why are Californians making the Las Vegas market hot?

Seeing how the Las Vegas market has managed to stay hot, the only question left is why Californians are particularly set on moving here. Since the housing market in Las Vegas has been stabilizing for the first time in a long while, it’s no wonder that people are drawn to it. However, the housing market has gone up and down numerous times over the last couple of decades. This begs the question: why aren’t Californians afraid of investing amid this current rise?

The answer lies both in the fact that the Las Vegas market is hot and that the California market has more than its fair share of flaws. Real estate agents in Las Vegas report that their California buyers are continually delighted with the Nevada capital’s market. They are, mostly, stoked about the prices. These buyers can get a new 3.500 sq. ft home for the cost of their California 1,200 sq. ft one. 

Californians aren’t only making the Las Vegas market hot and moving there for the luxurious housing that is now within their reach, but also for the Nevada way of life. Also, this affordability isn’t only seen in housing. It’s also evident in other daily aspects of life. Of course, Californians have adjusted to the way the market works, and they don’t exactly jump at the initial asking price. They are negotiating and trying to get even better deals, which is only natural.

Moving to Las Vegas – interstate relocation

If you’re thinking about moving to Las Vegas, there’s no better time. It would be best to plan your interstate relocation as soon as possible. Waiting isn’t something that you should do since the market can change very quickly. However, if you’re looking for easy relocation from the Golden State, you’re in for a ride. International relocation isn’t exactly effortless under normal circumstances. And now, add the pandemic on top of that, and you get a real mess waiting to happen. Nonetheless, it’s not unfeasible. You just need to dedicate your time to some extra preparation, effort, and energy.

Prepare for your move well

One of the best and most valuable things you’ll do when it comes to your upcoming moving experience is preparation. Proper preparations are the key to success for anything you’ll do. However, relocation during the pandemic takes this rule to a whole other level. The fact that the Las Vegas market is hotter than ever before is great. However, it doesn’t solve everything else that awaits you. Plan, prepare, follow through and, ultimately, enjoy the fruits of your labor.

Hire a moving company

Nobody expects you to do this on your own. In the same manner that you’ll hire real estate agents to help you get your Las Vegas hot luxury home, you will need movers to help you move. Find a way to have an organized and smooth relocation while continuing with your everyday life as unbothered as possible. The guys from sosmovingla.net will help you do just that if you give them a chance. You’ll move safely and soundly in no time while abiding by all the pandemic protocols.

The market should stay hot throughout 2021

This Nevada market is thriving and continually getting hotter despite business closures. However, since it’s been quite a roller coaster over the years, it’s wise to be cautious about the longevity of this rise. Nonetheless, as of now, prices are certainly rising to record levels. The Las Vegas market should, according to predictions, stay hot and strong. This is mainly due to the meager mortgage rates and the fact that interest rates most likely won’t go up.

The housing demand is also on the increase. Californians continue to flock and make the Las Vegas market hot. If we’re to trust the experts, the market price is at the highest pace for home sales in the last 14 years. All these factors will probably keep the market strong. There’ll be less supply which will, consequently, maintain the price level of the single-family homes.