The Las Vegas Housing Market Remains Active! While listing inventory continues to creep up ever so slightly, the Las Vegas real estate market supply continues to remain stable at 8.9 months. This is good news as prices continue to slip - now averaging close to 50% less than the market peak in 2006. Inventory absorption is critical to a recovering market. The million dollar market is dead. Fewer homes qualify for the market segment due to price declines. Million dollar closings though are off 366% compared to last year in the same time frame. 2009 continues the momentum established in the 2nd half of last year with a moderate number of closings through the first 4 weeks-up 108% compared to 2008.
Las Vegas Real Estate Wire
Las Vegas Real Estate Statistics and News
-
Recent Comments
timkuptz on Patrick Egger on Bridget Magnus … on September 2009 Las Vegas Closi… timkuptz on Las Vegas Real Estate Median P… Dave Matthews on Las Vegas Real Estate Median P… -
Authors
February 13, 2009 at 5:52 pm
A friend of mine just purchased a nice house in vegas at a very good price. Hopefully the housing market will start to rebound soon.