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What Real Estate Agents Can Do About the Housing Shortage

After the financial crisis of years past, everyone is keeping an eye on the housing market. Las Vegas has bounced back from its housing collapse, but real estate agents are starting to wonder how long this upturn will last. Find out what real estate agents are telling consumers following the housing collapse in Las Vegas.

The return of the consumer

While many homes throughout the valley remain vacant after rampant foreclosures, consumer trust has returned to the market. Families are more willing to invest in new homes and banks are happy to help finance mortgages. Most potential buyers in the valley seek suburban, single-family homes with entry-level prices.

The problem is, builders are not supplying enough of the type of homes that most buyers seek. Instead, they are primarily building expensive luxury homes that have the ability to turn higher profits. This mismatch of supply and demand could pose a problem for real estate agents. Buyers might become discouraged by high prices, bidding wars and the difficulty of finding a reasonably priced home.

What can real estate agents do to help?

Real estate agents cannot control what will happen with home construction and prices. Fortunately, they can help match buyers with homes that are currently on the market. If Nevada truly is in a housing shortage, sellers have full control of the present marketplace.

Some homeowners will be seeking to sell their entry-level priced homes and upgrade to luxury housing. If agents help sellers put their homes on the market, they can also help put more homes on the market for potential buyers. In the end, it’s all about matching clients with the kinds of homes they need.

No matter what happens, real estate agents should continue to encourage client confidence and keep business moving. Since 1991, Elite Realty has been the home of the top real estate brokers in Las Vegas. For more information, give us a call today at (702) 835-5255.