Las Vegas Real Estate Market Inventory Trends April 2012

The Las Vegas residential resale real estate market experienced it’s 16th month consecutive decline on residential resale home inventory in April 2012!   I am expecting to see continued declines and inventory shortages until things get smoothed out with AB 284.

Las Vegas area is still a seller’s market and our pendings level is slightly higher than the active level.  Our absorption rate is in “EXTREME” seller’s market mode with less than 2 months of inventory which indicates a strong seller’s market.

The Las Vegas REO (foreclosures, bank owned) sector remains a EXTREME seller’s market WITH LESS THAN 1 month of inventory & the Las Vegas Short Sale sector has emerged from a stable market to a seller’s market with a sudden & swift decrease of inventory.

Las Vegas Home Sales were strong with 4219 units sold in March 2012.

Las Vegas Home Pendings remain high due to short sales and the challenges it takes to close a Las Vegas Short Sale.

Cash sales still dominate the Las Vegas sold terms with 50% of the homes selling with cash vs financed offers (VA/FHA/Conventional.)

The rest of my April 2012 Las Vegas Market Reports for specific sectors of the Las Vegas Real Estate Market will be up within the next several days on these pages:

Age Restricted Communities & Sun Cities

Las Vegas Area Market Activity – shows general Las Vegas Market Activity, Trends & Absorption

Las Vegas Area Sales by Type – Four Graphs to Show Las Vegas Area Sales Trends.  See what percentage of Las Vegas Area Sales are Short Sales, REO (bank owned) & Standard Sales!

Las Vegas Area Sold Terms – Various Graphs and Charts that show what percentage of homes were Cash only or Financed.  Financed homes divided by Cash, Conventional, FHA or VA.

Las Vegas Area Concession Stand – Shows what percentage of concessions (or closing costs) sellers are giving buyers.

Las Vegas Area REO or Bank Owned Homes – Comprehensive Reports on Las Vegas Area REO including financing profiles by price point and absorption rate.

Las Vegas Area Short Sale Homes – Comprehensive Reports Detailing Short Sale Listing, Contract & Sold Stats.  Includes Absorption Rate.

Enjoy and feel free to ask questions about these reports or trends right here

The following two tabs change content below.
Real Estate Agent in the Las Vegas - Henderson Area. Affiliated with: NAR, NVAR, GLVAR (Local Realtor Associations), REBAC (Real Estate Buyer's Agency Council), NABPOP (National Association of Broker Price Opinion Professionals) Seven Designations/Certifications: REALTOR®, ABR (Accredited Buyer's Representative), AHWD (at Home With Diversity), RSPS (Resort & Second Property Specialist), SFR (Short Sale/Foreclosure Resource), SRES (Senior Real Estate Specialist), SRS (Seller Representative Specialist).
What say you?