The Las Vegas residential resale real estate market experienced itâ€™s 16th month consecutive decline on residential resale home inventory in April 2012! Â I am expecting to see continued declines and inventory shortages until things get smoothed out withÂ AB 284.
Las Vegas area is still a sellerâ€™s market and our pendings level is slightly higher than the active level. Â Our absorption rate is in “EXTREME” seller’s market mode with less than 2 months of inventory which indicates a strong sellerâ€™s market.
TheÂ Las Vegas REO (foreclosures,Â bank owned) sector remains a EXTREME sellerâ€™s market WITH LESS THAN 1 month of inventory & theÂ Las Vegas Short SaleÂ sector has emerged from a stable market to a sellerâ€™s market with a sudden & swift decrease of inventory.
Las Vegas HomeÂ Sales were strong with 4219 units sold in March 2012.
Cash sales still dominate theÂ Las Vegas sold termsÂ with 50% of the homes selling with cash vs financed offers (VA/FHA/Conventional.)
Las Vegas Area Market ActivityÂ â€“ shows general Las Vegas Market Activity, Trends & Absorption
Las Vegas Area Sales by TypeÂ â€“ Four Graphs to Show Las Vegas Area Sales Trends.Â See what percentage of Las Vegas Area Sales are Short Sales, REO (bank owned) & Standard Sales!
Las Vegas Area Sold TermsÂ â€“ Various Graphs and Charts that show what percentage of homes were Cash only or Financed.Â Financed homes divided by Cash, Conventional, FHA or VA.
Las Vegas Area Concession StandÂ â€“ Shows what percentage of concessions (or closing costs) sellers are giving buyers.
Las Vegas Area REO or Bank Owned HomesÂ â€“ Comprehensive Reports on Las Vegas Area REO including financing profiles by price pointÂ and absorption rate.
Las Vegas Area Short Sale HomesÂ â€“ Comprehensive Reports Detailing Short Sale Listing, Contract & Sold Stats.Â Includes Absorption Rate.
Enjoy and feel free to ask questions about these reports or trends right here
Latest posts by Renee Burrows (see all)
- Las Vegas Home Buyer Education Seminars - March 10, 2014
- Green Valley Condo for Sale! $125K - February 6, 2014
- Free & Functional Las Vegas Home Search App for Your Mobile Device! - January 11, 2014
- Ask The Broker - December 23, 2013
- FREE Las Vegas Relocation Guide - December 19, 2013