Through July 2017, the Southern Nevada resale housing market continued to trend in a positive direction.
Prices edged up further (+10.2 percent), closing volumes jumped from the prior year (+10.8 percent) and effective availability remained limited (1.8 months).
The overall condominium/townhouse segment posted similar results with closings up 7.5 percent, median prices rising 20.0 percent and inventory reaching 1.1 months.
Importantly, foreclosure activity remains at a post-recession low with the number of notices of default, notices of trustee sale and trustee deeds falling substantially during the past couple of months. Improving economic and housing fundamentals are contributing to reduced foreclosure activity.
Information courtesy of SalesTraq
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Berkshire Hathaway HomeServices, Nevada
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