• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Las Vegas Strip Luxury Real Estate

Luxury High-Rise Specialist with 30+ Years Experience

  • Discover Amazing Las Vegas Strip High-Rise Living | Best Views & Amenities
  • Buy
    • Find A Home In Las Vegas
    • How to Buy a Home in Las Vegas
  • Home Evaluation
  • Properties
  • About Us
  • Faq
  • Resources
  • Blog
You are here: Home / Archives for real estate

real estate

Feb 06 2024

Fast-Selling Houses: Ongoing Market Trend

Have you been thinking about selling your house? If so, here’s some good news. While the housing market isn’t as frenzied as it was during the ‘unicorn’ years when houses were selling quicker than ever, they’re still selling faster than normal.

The graph below uses data from Realtor.com to tell the story of median days on the market for every January from 2017 all the way through the latest numbers available. For Realtor.com, days on the market means from the time a house is listed for sale until its closing date or the date it’s taken off the market. This metric can help give you an idea of just how quickly homes are selling compared to more normal years:

 

When you look at the most recent data (shown in green), it’s clear homes are selling faster than they usually would (shown in blue). In fact, the only years when houses sold even faster than they are right now were the abnormal ‘unicorn’ years (shown in pink). According to Realtor.com:

“Homes spent 69 days on the market, which is three days shorter than last year and more than two weeks shorter than before the COVID-19 pandemic.”

What Does This Mean for You?

Homes are selling faster than the norm for this time of year – and your house may sell quickly too. That’s because more people are looking to buy now that mortgage rates have come down, but there still aren’t enough homes to go around. Mike Simonsen, Founder of Altos Research, says:

“. . . 2024 is starting stronger than last year. And demand is increasing each week.”

Bottom Line

If you’re wondering if it’s a good time to sell your home, the most recent data suggests it is. The housing market appears to be stronger than it usually is at this time of year. To get the latest updates on what’s happening in your local market, connect with a real estate agent.

Written by Dr Jan Duffy REALTOR · Categorized: Uncategorized · Tagged: buyer, buzz, conversation, driving, factors, Find Las Vegas Fast-Selling Houses, investor, market trend, real estate, seller

Jan 29 2024

Will a Silver Tsunami Change the 2024 Housing Market?

Have you ever heard the term “Silver Tsunami” and wondered what it’s all about? If so, that might be because there’s been lot of talk about it online recently. Let’s dive into what it is and why it won’t drastically impact the housing market.

What Does Silver Tsunami Mean?

A recent article from HousingWire calls it:

“. . . a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging . . .”

The thought is that as baby boomers grow older, a significant number will start downsizing their homes. Considering how large that generation is, if these moves happened in a big wave, it would affect the housing market by causing a significant uptick in the number of larger homes for sale. That influx of homes coming onto the market would impact the balance of supply and demand and more.

The concept makes sense in theory, but will it happen? And if so, when?

Why It Won’t Have a Huge Impact on the Housing Market in 2024

Experts say, so far, a silver tsunami hasn’t happened – and it probably won’t anytime soon. According to that same article from HousingWire:

“. . . the silver tsunami’s transformative potential for the U.S. housing market has not yet materialized in any meaningful way, and few expect it to anytime soon.”

Here’s just one reason why. Many baby boomers don’t want to move. Data from the AARP shows over half of the surveyed adults ages 65 and up plan to stay put and age in place in their current home rather than move (see chart below):

Clearly, not every baby boomer is planning to sell or move – and even those who do won’t do it all at once. Instead, it will be more gradual, happening slowly over time. As Mark Fleming, Chief Economist at First American, says:

“Demographics are never a tsunami. The baby boomer generation is almost two decades of births. That means they’re going to take about two decades to work their way through.”

Bottom Line

If you’re worried about a Silver Tsunami shaking up the housing market, don’t be. Any impact from baby boomers moving will be gradual over many years. Fleming sums it up best:

 

“Demographic trends, they don’t tsunami. They trickle.”

Written by Dr Jan Duffy REALTOR · Categorized: For Buyers, For Sellers, Housing Market Updates · Tagged: baby boomers, changing landscape, housing industry, housing market, real estate, retirement, silver tsunami, strategies, wave

Primary Sidebar

Testimonials on Las Vegas Home Search

a blue and yellow graph with blue and yellow text

Some Highlights

  • A growing number of homeowners are overestimating today’s market. ​And that’s why the number of sellers dropping their price is back at normal levels.​
  • A lot of the time this is happening because they’re not paying attention to current conditions. The best way to avoid that mistake? Lean on the expertise of an agent.
  • If you want a proven pricing strategy that works for today’s market, connect with a local agent.
  • Why Homeownership Is Going To Be Worth It
  • 3 Reasons To Buy a Home This Summer
  • Why More Sellers Are Choosing To Move, Even with Today’s Rates
  • Your House Didn’t Sell. Here’s What To Do Now.
  • Is Inventory Getting Back To Normal?

Footer

RSS Find a Home In Las Vegas Weekly News You Can Use

  • The Truth About Where Home Prices Are Heading July 10, 2025
    There are plenty of headlines these days calling for a housing market crash. But the truth is, they’re not telling the full story.
  • Selling and Buying at the Same Time? Here’s What You Need To Know July 9, 2025
    If you're a homeowner planning to move, you're probably wondering what the process is going to look like and what you should tackle first.
  • Should You Buy a Vacation Home? July 8, 2025
    Now that summer’s here, you’re probably planning your next getaway. But what if you didn’t have to? 
  • What You Should Know About Getting a Mortgage Today July 7, 2025
    If you’ve been putting off buying a home because you thought getting approved would be too hard, know this: qualifying for a mortgage is starting to get a bit more achievable, but lending standards are still strong.
  • Think No One’s Buying Homes Right Now? Think Again. July 3, 2025
    If you’ve seen headlines saying home sales are down compared to last year, you might be thinking – is it even a good time to sell?
  • Sellers
  • Services
  • About Us
  • Search
  • Faq
  • Blog
  • Contact

Berkshire Hathaway HomeServices Nevada Properties

Your Trusted Las Vegas Real Estate Experts

Our Offices

Centennial Hills

9406 Del Webb Boulevard,
Las Vegas, NV 89134

(702) 718-0043

Henderson

3185 St Rose Pkwy, Suite 101,
Henderson, NV 89052

(702) 500-1955

Sahara

7475 W Sahara Ave # 100,
Las Vegas, NV 89117

(702) 299-6607

Sunset

8850 W Sunset Rd UNIT 200,
Las Vegas, NV 89148

(702) 500-1942

Summerlin

10777 W Twain Ave # 333,
Las Vegas, NV 89135

(702) 842-0410

Northwest

1490 Center Crossing Rd,
Las Vegas, NV 89144

(702) 678-9012

Downtown Las Vegas Condos & Homes

921 South Main Street,
Las Vegas, NV 89101

(702) 500-1980

Our Services

  • Residential Sales
  • Commercial Properties
  • Investment Opportunities
  • Property Valuation
About Us Blog Privacy Policy Terms of Service Contact Us
© Berkshire Hathaway HomeServices Nevada Property. All Rights Reserved.