Problems, Objections, and Fears
Is Lake Havasu City in a Housing Bubble?
Lake Havasu City’s housing market follows the national trends. We used to be a couple of months behind California’s housing market, yet today we are consistent with national numbers. Our biggest bubble is our location; we are 3 hours from all major Real Estate markets. We are predominantly a 2nd home market. Of course, COVID created a rapid inventory reduction and a selling price increase; today, we are coming back into a normal market, and inventory is almost balanced with a 5-month supply in inventory. Prices are softening, not falling, yet are softer due to rising inventory and steady interest rates. If interest rates drop, then we may see a spike in sales. Prices are always offset by demand. We are a very desirable area for a 2nd home with things to do like: Boating on the lake, off-roading in the desert, golf at the area golf courses, events like our boating, motorcycle, and hot rod get-togethers that keep many entertained.