Mia Browning is settling into her new 3 bed, 2.5 bath townhome in North Las Vegas, despite a mortgage rate that has more than doubled since she first began looking for a home.
The midwestern native says she’s lived on and off in Las Vegas for 10 years, and in 2019, began the hunt for a property of her own.
“You’re talking, putting offers in sight unseen, there’d be like 26 offers,” Browning said inside her nearly 1800 sq ft townhome Thursday morning. “It was stressful. Tears were shed.”
Back then, she says mortgage rates were in the “high twos, low threes,” which she thought was too high. Now, that rate hovers between six to over seven percent.
“I kick myself for doing that because obviously I would have been able to get more house or less of a house payment,” Browning said. “It’s worth it, but it is taxing.”
Her purchase comes as Las Vegas RELATORS (LVR) reports home, townhome and condo prices are trending upwards from the Spring. But, according to the most visited real estate website in the U.S., Las Vegas is among the top metro cities with the largest declines in home value.