2007, Soon to be Forgotten Memory! The Las Vegas real estate market is back and here to stay. The demand for housing is real. We are at 2 year highs for Pending sales. This week, the Las Vegas real estate market topped every week in 2007 with closed sales. Closed sales in the past 30 days tracks the trend weekly rather than monthly (most data reporters method). Each week, I track the previous 30 days of closings to detect trends or news as it happens not after. This past week, 1952 closings in the previous 30 days bested any week in 2007 (1909). Is this sustainable? Yes. With more than 6000 Pending listings in the MLS, consistent 2000 plus homes closing each month is realistic. Las Vegas has been increasingly noted in national news magazines as a metro area most likely to recover sooner than others. They are right. Where they are wrong is using the term “likely”. This market is recovering and is healthy. Las Vegas is a great town, leading in entertainment, dining, gaming, shopping, and now recovering real estate.
CLICK HERE TO DOWNLOAD THIS WEEK’S MARKET SNAPSHOT
