For the first four months of the year, year-to-date sales for 2018 were ahead of 2017. In May, that trend came to a halt, and 2018 year-to-date sales are down 1% compared to the same period in 2017. As predicted, the lack of supply is impacting the number of sales compared to last year.At the Nevada Realtors Conference in Las Vegas this month, NAR Chief Economist Lawrence Yun reported there is diminished optimism in the home buying process. Buyers are frustrated by the low inventory, weakening affordability, and do not want to compete against multiple offers on properties. See the full report: 06 2018 Market Report
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