The supply of single family homes for sale in Las Vegas keeps dwindling at an alarming pace and average home prices are inching upward again. As of June 4, 2012, only 3.923 single family homes remain listed in the Las Vegas MLS as active (not under contract) in Clark County. At the end of April there were 4.594 homes actively listed, so this represents a 15% decrease in inventory and only gives the local market a 5 week supply of resale housing.
Properties selling for under $100k posted the biggest decrease in inventory as investors continue to purchase for cash as an investment. Available foreclosures in this price range dropped over 50% as Las Vegas foreclosure filings remain stymied by AB 284.
The current market breakdown looks like this: