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Las Vegas Housing Market info (Sept ）)

Hello,

We have only two months left in this year. Las Vegas, which was hot until recently, is suddenly starting to feel the cold of winter.

Now, the current Las Vegas housing market is showing signs of cooling down a bit. This is because the inventory of properties is increasing and listing periods are getting longer.
The median price for a single-family home in September was $479,900, up 6.6% from $450,000 last September. The median price for condos and townhouses also reached $299,500,
up 10.9% from last September's $270,000 and above this July's high of $296,000.

Sales prices remain high as of the end of October, with 5,458 single-family homes and 1,731 condominiums and townhouses still on the market with no offers by the end of September.
This is largely due to rising prices and still high housing rates. Many are also waiting for the uncertainty following the presidential election to dissipate.
However, the luxury market has stabilized and sales of high-end properties remain strong.

The U.S. presidential election is approaching next Tuesday, November 5. Generally, as elections approach, economic stability and housing affordability are the main concerns of voters.
Home sales often slow temporarily as the election approaches, as people are more eager to see how the election results will affect the economy.

Data from the U.S. Department of Housing and Urban Development （ HUD ） shows that such slowdowns are temporary; in nine of the last 11 presidential elections, home sales have tended to recover after the election and trading activity has increased
the following year. The Las Vegas market is expected to mirror this trend, with the brief election-related slowdown expected to dissipate quickly.

Happily, this temporary slowdown is not a permanent decline. Historically, sales tend to recover after elections.
In fact, there is an 82% chance that home sales will increase in the year following the election （ See attached chart ） . Once the election is over, buyers and sellers will be more confident in their plans,
resulting in a boost to home sales. Based on past trends, more homes are expected to sell next year.

Thus, what currently feels like a market slowdown is a temporary downturn, not a long-term trend.
Once the election uncertainty is resolved, buyers and sellers are expected to return to the market.

The election has also drawn attention to the housing policies of Vice President Kamala ・ Harris and former President Donald ・ Trump.
Trump's plan focuses on lowering mortgage rates through inflation control, promoting development of federally owned land, and providing tax incentives for first-time homebuyers.
Harris, on the other hand, plans to ease red tape, accelerate homebuilding, and provide up to $25,000 in down payment assistance to first-time homebuyers.

In conclusion, while election years often bring a temporary slowdown in the housing market, this slowdown is temporary and data shows that home sales tend to increase
in the year following a presidential election, and 2025 is expected to be no exception. The year 2025 is expected to be no exception.

The housing market is expected to be active again, but who will be elected president will be especially important this time around.