Las Vegas

Today’s Housing Inventory Proves The Market Isn’t Headed For A Crash

August 29, 2022

As the summer comes to an end and we begin to consider what the real estate market will look like in the last quarter of 2022, I thought now would be a perfect moment to reflect on where we’ve come from.

This brief overview of local newscasts over the last 18 months reveals where we were in Spring of 2021, and where we are now, heading into the end of Summer 2022.

 

 

Whether or not you owned a home in 2008, you likely remember the housing crash that took place back then. And news about an economic slowdown happening today may bring all those concerns back to the surface. While those feelings are understandable, data can help reassure you the situation today is nothing like it was in 2008.

One of the key reasons why the market won’t crash this time is the current undersupply of inventory. Housing supply comes from three key places:

  • Current homeowners putting their homes up for sale
  • Newly built homes coming onto the market
  • Distressed properties (short sales or foreclosures)

For the market to crash, you’d have to make a case for an oversupply of inventory headed to the market, and the numbers just don’t support that. So, here’s a deeper look at where inventory is coming from today to help prove why the housing market isn’t headed for a crash.

Current Homeowners Putting Their Homes Up for Sale

Even though housing supply is increasing this year, there’s still a limited number of existing homes available. The graph below helps illustrate this point. Based on the latest weekly data, inventory is up 27.8% compared to the same week last year (shown in blue). But compared to the same week in 2019 (shown in the larger red bar), it’s still down by 42.6%.   Read more

 

 

More Articles

Las Vegas
A Journey from Hospitality Management to Real Estate Expert

Published by: Lynda Gomez Jennifer Graff’s transition from a career in hotel management to becoming a prominent figure in the...

December 01, 2023
Read More
Las Vegas
5 Fun Decorating Trends to Try This Fall

Fall into these design trends By Amanda Lauren Fall has almost officially arrived. If you spent a lot of time away...

October 30, 2023
Read More
Las Vegas
Simply stunning, inside and out. VERTEX BY TRIPOINTE

VERTEX Modern townhomes that surpass all expectations. At Vertex, you’ll find contemporary architectural design, loads of light, and the model...

October 23, 2023
Read More

Get Expert help finding your new home

Contact An Expert Today

Sign up to receive updates on the latest news