Is the Real Estate Market going to Crash?

There is a lot of uncertainty in the market, and it is making people very anxious and not clear. The real estate market was a strong seller’s market before the lockdown. Real estate prices are affected by supply and demand. When the supply increases and demand decrease, prices go down, and we will experience a crash.

As of now, the Las Vegas market has sustained a low supply of inventory. Our inventory is still very low compared to last year. Also, the demand has been good enough to support the prices and for the market not to decline. Also, the cause and effect of the lockdown are still too new. We only had the lockdown for four weeks. Therefore if this continues for a longer time, of course, the effect will be more drastic due mainly to unemployment.

There will be a rocky road ahead for at least a year or so, and the market will get a little softer. However, I don’t anticipate a market crash like we had one in 2008.