Below is a report published in the Daily Real Estate News showing that Nevada is among the top five states Americans are moving to. But statistics in January show that single family home listing inventory, which usually increases about 10% after the December holiday season, has actually DECREASED an additional 10% in the Las Vegas market. This means many prospective buyers are unable to purchase property in a timely fashion to accommodate their move, and they are deciding to rent while pursuing their housing search. This has spiked rental rates in the Valley, making ownership of investment property here even more desirable.
Tagged : las vegas market inventory
Found 2 blog entries tagged as "las vegas market inventory".
As of April 26th, only 4,594 single family homes remain listed in the Las Vegas MLS as active (not under contract) in Clark County. Our inventory is continuing to shrink as few, if any, bank foreclosures are reaching the market due to the restrictions of AB 284.
The sale of lower priced housing, in particular, is really active. This week one of our agents had an offer in on a home that had received over 70 offers within just a few days, most above list price!
The current market breakdown looks like this:
874 homes priced under $100k - including 361short sales and 225 foreclosures
1644 homes priced between $100k and $200k - including 664 short sales and 278 foreclosures
846 homes priced between $200k and $300k - including 262 short sales and 89