Happy 4th of July!

Refinance loans were going crazy last
year on Independence Day! Sales of new
and existing homes had been steady all
year. Both the weather and the real estate
market were sizzling hot!

This year, summer weather is finally here,
but rising interest rates have turned the
sizzle of the real estate market down to
medium heat. With the help of a local
company called Data Data Inc., we track
statistics that help us identify these trends.
The headline statistic this year: sales.

The headline statistic this year: sales.
Total sales in Clark County (both new and
resale of existing homes) have been strong,
with a seasonal dip, for the last 13 months
(new home sales are in parentheses):

May 2019 ……………………………1058 (215)
May 2020………………………………765 (132)
May 2021 ……………………………1214 (215)
June 2021 ……………………………1389 (221)
July 2021 …………………………….1365 (232)
August 2021 ……………………….. 1217 (214)
September 2021…………………… 1197 (167)
October 2021 ……………………… 1152 (171)
November 2021 ……………………1094 (220)
December 2021 ……………………1106 (185)
January 2022 …………………………764 (136)
February 2022 ……………………….801 (153)
March 2022…………………………1046 (162)
April 2022…………………………..1058 (201)
May 2022……………………………1074 (206)

But, look at the decline in refinance loans
in Clark County in the last 13 months as
interest rates have risen:

May 2019 ………………………………………573
May 2020……………………………………..1876
May 2021 ……………………………………..1039
June 2021 ……………………………………. 1261
July 2021 ………………………………………1166
August 2021 ………………………………….1294
September 2021……………………………..1132
October 2021 ………………………………..1072
November 2021 ………………………………953
December 2021 ………………………………867
January 2022 …………………………………737
February 2022 ……………………………….652
March 2022……………………………………665
April 2022……………………………………..547
May 2022…………………………………….. 408

Clark County Title is grateful that we
work with the best Realtors, lenders
builders, appraisers, inspectors, surveyors,
developers, contractors and attorneys
in Clark County. We thank these
professionals for their hard work and
continuing referrals.

Clark County Title is ready to team with
you and your clients make this summer
a great season for real estate. Please call
our friendly, professional staff—and wear
sunscreen!

From your friends at Clark County Title,
Scott