How would it be a good thing? Well we have been a seller's market with barely any sellable inventory for over a year now.
Inventory is marching upwards to 100 units a week with the expiration of the tax credit. We are currently sitting at 9,584 units of condo/single family and townhome active listings.
If we take our average closes over the last year that = 3,892 units/month. Six months is considered a stable market so we need about 23,000 units to go from a seller's market to a stable market.
If this pace continues, we should see a stable market in about 2.5 years or 134 weeks.
Luckily the seller's market here in Las Vegas has given us some small year over year appreciation and we will take that over depreciation any day!
The crazy thing about Las Vegas Real Estate Market Trends is that it changes and quickly. I will definitely notify my kind readers if I am seeing quick changes :)
