Everyone knows Las Vegas was one of the hardest hit areas in the country in the recent recession. Homes prices dropped, credit crashed, and many homes were foreclosed on in across the state of Nevada but in record numbers her in Vegas. Now that a few years have passed, we are starting to see the signs of a housing market on the mend. Over the past couple years, the feds have kept interests rates at historic lows buy buying billions of dollars worth of bonds other investments each month. Thereby pouring capitol into the banks and allowing interest rates to be incredibly low and to stay there. Recently however, the fed announced it plans to begin scaling back on its quantitative easing assuming positive signs in the economy continue. The fed made sure to clarify it would ease off the throttle as opposed to slamming on the brakes.

Las Vegas is in an interesting position nationally right now, we are not even close to being out of the woods yet which means materials and labor are still more affordable then they have been in the past. Building a home in general is more affordable today in Las Vegas then it has been in recent years. The economy is recovering, which means building prices as well as interests rates will be rising. With both costs and rates at very low points currently, knowing that both will certainly rise soon, now is the time to build. It may very well be the case that those individuals who decided to put off building that dream home until next year may be kicking themselves. The smallest rises in costs and interests rates can make all the difference in a 15 or 30 years mortgage. If you have been delaying building your custom home, thinking the market will continue to bend in favor of the buyer, don’t be fooled. All economic indicators suggest building this year could save you tens of thousands of dollars or more in the long run. Don’t wait; call Blaser Construction today to get started on your build.