Andy Medina - Las Vegas Realtor

  History Shows the Housing Market Always Recovers Now that the market is slowing down, homeowners who haven’t sold at the price they were hoping for are increasingly pulling their homes off the market. According to the latest data from Realtor.com , the number of homeowners taking their homes off the market is up 38% since the start of this year and 48% since the same time last June. For every 100 new listings in June, about 21 homes were taken off the market. And if you’ve made that same choice, you’re probably frustrated things didn’t go the way you wanted. It’s hard when you feel like the market isn’t working with you. But while slowdowns can be painful in the moment, history tells us they don’t last forever. History Repeats Itself: Proof from the Past This isn’t the first time the housing market has experienced a slowdown. Here are some other notable times when home sales dropped significantly: 1980s: When mortgage rates climbed past 18% , buyers stopped cold. Sales crawle...

Should You Still Expect a Bidding War? If you’re still worried about having to deal with a bidding war when you buy a home, you may be able to let some of that fear go. While multiple-offer situations haven’t disappeared entirely, they’re not nearly as common as they used to be. In fact, a recent survey shows agents reported only 1 in 5 homes (20%) nationally received multiple offers in June 2025 . That’s down from nearly 1 in 3 (31%) just a year ago – and dramatically lower than in June 2023 (39%) ( see graph below ): This trend means you should face less competition when you buy. That gives you more time to make decisions and the ability to negotiate price or terms. It Still Depends on Where You’re Buying Of course, national trends don’t tell the full story. Local dynamics matter, a lot. This second graph uses survey data from John Burns Research & Consulting (JBREC) and Keeping Current Matters (KCM) to break things down by region to prove just how true that is. It shows, w...

  From Frenzy to Breathing Room: Buyers Finally Have Time Again If you tried to buy a home a few years ago, you probably still remember the frenzy. Homes were listed one day and gone the next. Sometimes it only took hours. You had to drop everything to go and see the house, and if you hesitated even slightly , someone else swooped in and bought it – sometimes even sight unseen. That kind of intensity pushed a lot of buyers to the sidelines. It was stressful, chaotic, and for many, really discouraging. But here’s what you need to know: those days are behind us. Today’s market is moving slower, in the best possible way. And that’s creating more opportunity for buyers who felt shut out in recent years. The Stat That Changes Everything According to the latest data , homes are spending an average of 58 days on the market . That’s much more normal. And it’s a big improvement compared to the height of the pandemic, when homes were flying off the shelves in a matter of days ( see graph be...

  Condos Could Be a Win for Today’s Buyers Not every homebuyer wants the biggest house on the block. Some want something simpler, more affordable, and easier to maintain, especially in a market where every dollar counts. That’s where condos come in. For first-time buyers, they can be a smart way to get into homeownership without stretching your budget. For downsizers, they offer less space to maintain with the flexibility to stay in a great location. And right now, condos are one of the most buyer-friendly parts of the market. Condo Inventory Is Up, And That Means More Choice According to the National Association of Realtors (NAR), there are 194,000 condos for sale right now. That’s the second highest amount we’ve seen in the last three years ( see graph below ): Just remember, this is the national figure. The exact number is going to vary based on where you’re looking to buy. But, generally speaking, you have more options and less competition. You’re not stuck waiting for somet...

  More Contracts Are Falling Through. Here’s How To Get Ahead. When you sell a house , the last thing you want is for the deal to fall apart right before closing. But according to the latest data from Redfin , that’s happening a bit more often lately. The good news is, it’s completely avoidable if you lean on an agent for insight into why that is and how to avoid it happening to you. This June, 15% of pending home sales fell through . That means those buyers backed out of their contracts. That’s not too much higher than the norm of roughly 12% from 2017-2019, but it’s still an increase. And it’s one you don’t want to have to deal with.  The key to avoiding this headache is knowing what’s causing the issues that lead to a buyer walking away. A recent survey from John Burns Research and Consulting (JBREC) and Keeping Current Matters (KCM) finds that agents reported the #1 reason deals are falling apart today is stemming from the home inspection (see graph below): Here’s why. W...

  Is It Better To Buy Now or Wait for Lower Mortgage Rates? Here’s the Tradeoff Mortgage rates are still a hot topic – and for good reason. After the most recent jobs report came out weaker than expected, the bond market reacted almost instantly. And, as a result, in early August mortgage rates dropped to their lowest point so far this year ( 6.55% ). While that may not sound like a big deal, pretty much every buyer has been waiting for rates to fall. And even a seemingly small drop like this reignites the hope we’re finally going to see rates trending down. But what’s realistic to expect? According to the latest forecasts , rates aren’t expected to fall dramatically anytime soon. Most experts project they’ll stay somewhere in the mid-to-low 6% range through 2026 ( see graph below ): In other words, no big changes are expected. But small shifts, like the one we just saw, are still likely.  Each time there’s changing economic news, there’s a chance mortgage rates will react. A...

Are These Myths About Buying a Newly Built Home Holding You Back? If you’ve been skipping over newly built homes in your search, you might be doing so based on outdated assumptions. Let’s clear up a few of the most common myths, so you don’t miss out on a solid opportunity. Myth 1: New Homes Are More Expensive It’s easy to assume a new build will cost more than an existing home, but that’s not necessarily true, especially right now. Data from Census and the National Association of Realtors (NAR) shows the median price of a newly built home today is actually lower than a home that’s been lived in already (an existing home): So, why’s this happening? As Heather Long, Chief Economist at Navy Federal Credit Union, explains: “ This largely reflects two trends: New homes are getting smaller on average, and builders are doing more price cuts .” If you’ve ruled out new construction based on price alone, it’s time to take another look. Talk to your local real estate agent to see what’s avail...

Online Home-Buying Search Terms Recently Hit 2-Year High Believe it or not, there are clear signs buyer interest is heating up again. Let’s talk about what’s really going on behind the scenes, and why the housing market might not be as quiet out there as it seems.  Buyers Are Looking, and Search Trends Prove It One of the clearest ways to measure what people are thinking about is to look at what they’re searching for online. And according to Google Trends , searches for phrases like “home for sale” have been climbing steadily this year. The graph below shows an index of two common homebuyer search phrases and how popular they were on Google over the past two years. The higher the line goes, the more popular that phrase was. A 100 on the graph shows the most popular time for each phrase: Here’s what really stands out in this data. Both phrases have been trending up overall this year, and they hit a recent high in mid-July. That’s a pretty strong sign that curiosity (and maybe even...

Why Selling Without an Agent Can Cost You More Than You Think Cutting out the agent might seem like a smart way to save when you sell your house. But here’s the hard truth. Last year, homes that sold with an agent went for almost 15% more than those that sold without one. That gap is pretty hard to ignore. And with more homes on the market to compete with right now, selling on your own is a mistake that’s going to cost you. This Isn’t the Market for DIY Selling A few years ago, you might’ve gotten away with a “For Sale By Owner” (FSBO) sign in your yard, navigating the process on your own. That’s because homes were flying off the market and buyers were pulling out all the stops. But that’s just not the case anymore. With more inventory than we’ve seen in years, we’re not in a “list it and they will come” market anymore. You need professional expertise. A yard sign and some photos you take on your own won’t cut it. Right now, the housing market is getting back to what most would consid...

  A Second Home Might Be the Missing Piece in Your Retirement Plan Are you wondering if you’re on track to retire someday? According to Intuit , 69% of people say today’s financial environment makes it tough to plan for the future, and 68% aren’t sure they’ll ever be able to retire. That’s why many people are exploring new ways to build stability and long-term income. And that’s where real estate comes in. Why Real Estate? Here’s What It Can Do for You If you’re able to make the numbers work, buying a second home can be a powerful tool for your future retirement. It could help you: Build wealth over time: As home prices rise through the years, your second home should grow in value and increase your net worth. Generate extra income: Renting the home could bring in some extra income you can add to your existing retirement savings. Just remember, some of the rent coming in will need to be used to pay that mortgage and maintain that house.  Profit in the future: You may decide t...

Agents need to Manage Buyer Expectations Nearly 40% of buyers say the process is tougher than expected. Agents can lead the way to set clear expectations. According to the National Association of REALTORS®,   nearly 40% of agents   report that buyers find the homebuying process to be more difficult than expected. It does make sense, though: Buyers are usually making one of the biggest investments of their lives and can be rightfully overwhelmed in the process. Without proper guidance, they may have misconceptions about what they can afford or the timeline of their purchase. Proactively communicating in the homebuying process and managing buyer expectations is key to streamlining the transaction for both the buyer and the agent. As an Agent, I have a responsibility to manage client expectations effectively, ensuring each transaction is smooth and crucial steps are communicated to my buyer. Understanding how to meet expectations helps create a more efficient and positive experie...

  Online Home-Buying Search Terms Recently Hit 2-Year High Believe it or not, there are clear signs buyer interest is heating up again. Let’s talk about what’s really going on behind the scenes, and why the housing market might not be as quiet out there as it seems.  Buyers Are Looking, and Search Trends Prove It One of the clearest ways to measure what people are thinking about is to look at what they’re searching for online. And according to Google Trends , searches for phrases like “home for sale” have been climbing steadily this year. The graph below shows an index of two common homebuyer search phrases and how popular they were on Google over the past two years. The higher the line goes, the more popular that phrase was. A 100 on the graph shows the most popular time for each phrase: Here’s what really stands out in this data. Both phrases have been trending up overall this year, and they hit a recent high in mid-July. That’s a pretty strong sign that curiosity (and may...

  Why Selling Without an Agent Can Cost You More Than You Think Cutting out the agent might seem like a smart way to save when you sell your house. But here’s the hard truth. Last year, homes that sold with an agent went for almost 15% more than those that sold without one. That gap is pretty hard to ignore. And with more homes on the market to compete with right now, selling on your own is a mistake that’s going to cost you. This Isn’t the Market for DIY Selling A few years ago, you might’ve gotten away with a “For Sale By Owner” (FSBO) sign in your yard, navigating the process on your own. That’s because homes were flying off the market and buyers were pulling out all the stops. But that’s just not the case anymore. With more inventory than we’ve seen in years, we’re not in a “list it and they will come” market anymore. You need professional expertise. A yard sign and some photos you take on your own won’t cut it. Right now, the housing market is getting back to what most would ...

  A Second Home Might Be the Missing Piece in Your Retirement Plan Are you wondering if you’re on track to retire someday? According to Intuit , 69% of people say today’s financial environment makes it tough to plan for the future, and 68% aren’t sure they’ll ever be able to retire. That’s why many people are exploring new ways to build stability and long-term income. And that’s where real estate comes in. Why Real Estate? Here’s What It Can Do for You If you’re able to make the numbers work, buying a second home can be a powerful tool for your future retirement. It could help you: Build wealth over time: As home prices rise through the years, your second home should grow in value and increase your net worth. Generate extra income: Renting the home could bring in some extra income you can add to your existing retirement savings. Just remember, some of the rent coming in will need to be used to pay that mortgage and maintain that house.  Profit in the future: You may decide t...