With over 16,000 homes on the market in Las Vegas it has definitely become a buyers market. Sellers have been forced to reduce their prices several times before their property sells. With the price reductions, I am seeing many investors getting back into the Las Vegas Market.
With so many homes on the market, it is taking a toll on the local real estate agents. Clients are demanding more advertising to be done and are seeking experienced agents to sell their properties. This market has driven many local real estate agents out of the business.
So not only is the market competitive for buyers and sellers but also for the local real estate agents trying to maintain their business.
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