Nevada Real Estate >> Las Vegas Real Estate Specialist: Nevada: Henderson: Fox Heights

Henderson | Las Vegas | North Las Vegas NV July 2010 Pendings Report: Inventory is STILL Rising Rapidly

Las Vegas Area Homes for Sale

Las Vegas Area Homes for Sale

Las Vegas Area Real Estate Market Report and Absorption Rate

Las Vegas Real Estate Inventory is still increasing RAPIDLY.  It is rising so quick that I am bumping up my predictions that we will emerge from a seller market to a stable market in October (original prediction was November/December.) This may be due to the first time buyer's tax credit expiring.  This is also good news as we could emerge from the extreme seller's market that we have been in for over a year to a stable market in about 8 months (with a consistent increases like the ones we have seen this month.)  This will afford more opportunities for buyers to have less competition when placing offers in homes.

Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas)

  • Listings (8/15/2010):  13902
  • Under Contract (8/15/2010):  13073
  • Sold July 2010:  3611

Short Sales:

  • 43% of Listings
  • 32% of Sales

REO (Foreclosures, Bank Owned:)

  • 20% of Listings
  • 44% of Sales

In One Month:  Listings are UP +2186 units, Contracted Listings DOWN -1555, Sales are DOWN -515 units.  Close ratios are going lower because much of the pending inventory is short sales which requires LONGER close times. 

 DOWN PAYMENT ASSISTANCE HAS NOT ENDED FOR FIRST TIME BUYERS, HOWEVER!!

Last Month's Pending Report

For Most Current Las Vegas Real Estate Inventory Market Report Click Here.

What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?

General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-605 (the average consumer probably asks, what’s that?)  It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley.  They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.

View More FAQ About My Las Vegas Area Real Estate Market Reports.

 

 


Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

copyright 2006-2013 Renee Burrows, REALTOR®, Savvy Home Realty Solutions  702-966-2494

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Comment balloon 6 commentsRenée Burrows • August 16 2010 08:24AM
Henderson | Las Vegas | North Las Vegas NV July 2010 Pendings Report:…
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Las Vegas Real Estate Inventory is still increasing RAPIDLY. It is rising so quick that I am bumping up my predictions that we will emerge from a seller market to a stable market in October (original prediction was November… more