Las Vegas Market Watch

We have had a Wild Couple of Weeks out here & it Doesn't seem to be Slowing Down

April 02, 2012
By Mary Kennedy
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After years of instability in the wake of the housing market collapse, the Las Vegas Valley Real Estate market could finally be seeing things turn around. According to a recent report from DataQuick, there were a greater number of homes sold in Las Vegas in February on both an annual and month-over-month basis. A report indicated that there were 4,240 transactions of both single-family homes and condominiums. This is a 5 percent increase from the previous month, and an 8.9 percent rise from a year earlier. The Las Vegas marketplace has been flooded with foreclosures and distressed properties during recent years. As a result, a majority of home sale transactions are occurring in the low-end of the market. The report noted that the sales rate of homes less than $100,000 surged 18.9 percent in February on an annual basis and accounted for 42.8 percent of all transactions. In contrast, the rate of home sales for more than $300,000 edged just 1.1 percent higher. Housing instability in Las Vegas could be seen as negative by a number of people, especially current homeowners. However, falling home prices has made the prospect of purchasing a home for sale in Las Vegas much more affordable for entry-level home-buyers. Now you may ask! What can I get for $100,000 in the Las Vegas Valley today? You're going to find this hard to believe, but click here to take a look---> Single Family Homes from $95 to $120K Now as you look through these homes, ask yourself: When National housing prices begin to turn in 2013 (as the geniuses predict), wouldn't you be happy camper in 3 to 5 years knowing that you purchased a home in the Las Vegas Valley at the absolute bottom of the market back in 2012? Think about it and give me a call because the time to buy low is now. Kindest Regards,
Mary Kennedy RE/MAX Central Las Vegas, NV.
April 02, 2012
By Mary Kennedy