From Boulder City to Pahrump (and every point in between), Las Vegas area real estate agents see a robust, post-pandemic market shaping up. Home sales are being driven by record low-interest rates.

The average rate for a 30-year fixed rate in June is 3.17%, according to Freddie Mac. This is down from 3.99% June of last year. That difference could save a Nevada home buyer close to $30,000 over the term of a loan.

Data from the Federal Reserve indicates that one of the fast-growing segments of the current real estate market is starter homes. Sales in May for these modest price houses have risen above pre-COVID-19 levels and have hit a three year high.

Feuling the starter home market is demand from millennials. This generation now comprises 37% of all home buyers, says the National Association of Realtors Research Group.

To claim a large share of the market for starter homes, local real estate agents will need to advertise to attract these buyers.  By almost any metric, advertising on Las Vegas radio is the best way to reach millennials planning to buy a house, condo, or co-op over the next year.

Type "LAS VEGAS REAL ESTATE AGENTS" into Google. In slightly over a half-second, the search will deliver 25,700,000 results. Similar searches for Henderson, Winchester, Paradise, and Spring Valley produce a proportional number of returns.

Despite the economic hardships imposed by the Coronavirus crisis on Clark County consumers, the demand for real estate is booming. 

The Wall Street Journal published a trend yesterday indicating that mortgage applications for purchase a home have achieved levels equal to last year.

According to redfin.com, home buying demand is 16.5% higher now than it was pre-COVID-19 on a seasonally adjusted basis.

Redfin attributes this explosive growth in real estate shoppers to two factors, including record-low mortgage rates. The other primary driver is a migration trend from expensive metropolitan areas as buyers hunt for more space at lower prices.

To capture a larger share of the robust market, local real estate agents need to stand apart from the millions of Google results.  Advertising on Las Vegas radio will help accomplish this.  Here's why.

There are 906,300 consumers in Clark County who own their own home. 

According to Zillow, more than 60% of homeowners carry a mortgage. A record number of owners are considering refinancing  now, which means millions of dollars in fees for local lenders and brokers are up for grabs.

Why the sudden urgency for Las Vegas homeowners to refinance their mortgages?

According to The Federal Home Loan Mortgage Corporation (aka, Freddie Mac), "The average 30-year fixed-rate mortgage hit a record 3.29% this week, the lowest level in its nearly 50-year history."

"Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force for the broader economy."

If a consumer Googles 'refinance my mortgage in Las Vegas, more than 7.2 million results come back, So, to set themselves apart, lenders and brokers will need to advertise.  By, any key metric, advertising on local radio is the best way to reach area homeowners.

If you were one of the 1,502,898 consumers who tuned-in to a Las Vegas radio station last week, then chances are you heard at least one commercial from GEICO, Progressive, or Liberty Mutual. That's because insurance is big business in Las Vegas.

Each year, Clark County consumers spend $3.1 billion to insure their homes and cars. That's almost $1500 for every area adult.

There is good news and bad news for the 3978 local insurance agents who are competing to earn a substantial share of the home and auto premiums consumers are paying.

According to Nielsen, 199,000 policyholders in Las Vegas are planning to switch insurance providers during the next 12 months.

Low unemployment, a boom in housing starts, and confident consumers are propelling robust sales for Las Vegas furniture stores.

In 2019, local consumers in Clark County spent $950,000,000 on furniture and home furnishing. This number is expected to grow.

Based on estimates developed by Furniture Today’s Strategic Insights team and Easy Analytic Software Inc. (EASI), the total furniture and bedding market is projected to expand by more than 22% by 2024.

If a Las Vegas small business owner who sells furniture, furnishings, or home decor would like to grab a larger share of this expanding market, then advertising is necessary.  By almost every key metric, advertising on local radio is a sound marketing investment.