Real estate agents are flocking to the Silver State, although it’s doubtful they’ve flocked to Las Vegas, which is currently experiencing a residential real estate recession.
The Las Vegas Review-Journal reports that Nevada has added more real estate agents to its ranks than anywhere else in the nation, citing a new study by Flatworld Mortgage Solutions based on figures from the U.S. Bureau of Labor Statistics. It was reported that.
The state added 1,140 employees from 2022 to last year, leading Tennessee, and second with 850. Missouri followed with 770 people.
The state that lost the most real estate agents was California, with 8,160 fewer companies. North Carolina decreased by 5,870 people. Texas decreased by 3,190 people. And Florida State lost 1,350 employees.
Meri Perry, president of Las Vegas Realtors, said Nevada’s top ranking reflects the growth of the greater Las Vegas area, including population and commercial investment.
“Studies like this, which suggest employment growth for real estate agents in Nevada will increase through 2023, strengthen Nevada’s reputation as a strong real estate market with a growing economy,” Perry said. told the Review-Journal.
“While the housing market may have slowed slightly over the past two years, Las Vegas Realtors and their members still appreciate the fact that Southern Nevada offers a number of advantages compared to other regions of the country. ”
However, that doesn’t necessarily mean there have been more agents in the Las Vegas metro market in recent years.
Realtors Group says the number of agent members in the Las Vegas area is decreasing, not increasing.
The number of authorized members of the trade association in 2022 will be 16,967, although the number of authorized members decreased to 16,332 last year and currently stands at 15,920.
An LVR spokesperson, who declined to be named, said the number of agents is typically a measure of the overall health of the housing market, and based on that number, more agents will be added outside of Southern Nevada.
Rajeev Kumar, executive vice president of Flatworld, said many things could be contributing to the local real estate industry, including the favorable climate and affordable housing options.
“Nevada’s leadership in real estate agent employment growth can be attributed to its thriving economy, rapid population growth, and strong demand for housing,” he told the newspaper.
The typical sales price for a single-family home in Las Vegas last month was $479,900, up 6.6% from September of last year and close to the all-time high of $482,000.
But supply continues to outstrip demand in Southern Nevada as homes sit on the market for too long without offers and sales continue to decline, according to the latest statistics from Las Vegas Realtors.
According to LVR, the number of homes sold in September was down 16.2% from the previous month and 1.6% from September last year.
The Las Vegas housing market last year had its worst sales performance since the Great Recession of 2008, according to the Review-Journal.
— Dana Bartholomew
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