FOX5 EXPERTS: Applied Analysis on Las Vegas’ hot housing market
LAS VEGAS (FOX5) -- Brian Gordon is a principal with Applied Analysis and does market analysis, business and hospitality consulting and economic modeling.
He’s also heads up SalesTraq, the firm’s residential research firm that tracks home sales and prices in the valley.
He said encouraging employment reports should continue to grow from this point forward. He’s encouraged by the recovery in retail and warehousing, but cautions it’ll still take time.
On the inflation front, he said things will calm down as we move through 2022 and he sees inflation at about half of where we are now -- 7% -- by the end of the year. Still not great, but an improvement.
Gordon said mortgage rates will follow interest rates, but as long as they’re in the 4% range, it shouldn’t scare off potential buyers since 4% is historically low.
If mortgage rates bump up to the five to 7% range, then that could limit people’s ability to purchase homes. He said affordable housing, especially for renters, will be a major issue this year.
He said the markets will work themselves out and expects more stability in going forward.
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