Realty One Group


A Recession Does Not Mean a Housing Crisis

It’s no surprise that The COVID-19 pandemic is causing an economic slowdown.

The good news is, home values actually increased in three of the last five U.S. recessions and decreased by less than 2% in the 4th.  All things considered, an economic slowdown does not equal a housing crisis and this will not be a repeat of 2008.

On a personal note, many people are asking me what is going on locally in the real estate market.  I can happily say that none of my clients have cancelled and many have taken advantage of the “zero” interest rate.  My vacant listings are continuing to show as well.  I have a friend in new home sales in Summerlin and they have had only 1 cancellation out of six buyers closing within the next 30 days.

I would like to go out on a limb and say that we will spring back from this.  I predict that we will have even more people moving to Las Vegas for the sunshine, warm weather, low cost housing and healthy lifestyle.  I also predict that rents will sharply increase due to the shortage of available rental properties.

I would love to hear from  you with your facts, thoughts or opinions.  You may email me directly at

Take care of yourselves and your families.  We’ll get through this like we always do.  #VegasStronger.


Please follow and like us: