Get free access to our world class MLS search tools, save your favorite listings, create saved searches & much more!

August 2017 Las Vegas Market Report -- Important Stats and Trends

Posted by Mastura Zaini-Roberts on Wednesday, August 16th, 2017 at 8:39am.

 

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

https://salestraq.com/resale_report/2017_07.pdf

 

 

Mastura Roberts
(702) 919-5400
offers@greatlasvegashomes.com

Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052

With over 30 years of experience helping families call Las Vegas "home!"



Related Blog Posts

What does a real estate agent do all day anyway?

It's not as easy as it looks on TV Key Takeaways: A real estate agent's job is to make sure everyone else involved in the transaction is doing their job. Agents have to continually shift gears to quickly adapt and respond to customer needs. What does a real estate agent do? Oh, where t...

Client Success Story -- Anthony Alfonso

I had a VA client who was told by their lender that they did not have to pay closing costs. One of the things I do for all my clients is to explain the buying process and with a VA loan, I explain they may qualify for no money down but there are still closing costs. I asked my client to check with their lender what the...

Down payment misconceptions continue to hinder millennials from owning a home

The misconception about down payments continue to hinder millennials from the possibility of owning a home.An outlook study conducted by United Shore Financial Services along with Michigan State University found out that a whopping 96% of its respondents became more interested in purchasing a home after finding out tha...

New home sales unexpectedly spike to 8-month high

Purchases of new U.S. homes unexpectedly increased in March to an eight-month high, indicating housing demand remained strong at the start of the spring buying season, Commerce Department data showed Tuesday. Key Points Single-family home sales increased 5.8 percent to a 621,000 annualized pace (median forecast...

Get 3.5% Paid Toward Your Closing Costs!

If you have been thinking about buying a home in Las Vegas in the next five weeks, Fannie Mae might pay 3.5% of your closing costs! This spring, in an effort to move some of the foreclosure inventory in its portfolio quickly, Fannie Mae is offering a special closing cost incentive for owner/occupants who go to contract...

Leave a Comment

Have a Question?

Contact Us

Follow Us