**ACTIVE Las Vegas Real Estate Inventory Rises for the Sixth Straight Month!**
Active Las Vegas Residental Resale MLS Inventory has risen for the third straight month. This is mainly due to first time buyers exhausting the market due to their tax credit expiring - this is not due to the shadow inventory fairy bringing us more inventory!
Read more about Las Vegas Real Estate Inventory Analysis here and consumers may comment on this post.
Las Vegas Area Real Estate Market Watch was created for informational purposes only.
This is for all the buyers wondering "where is the inventory"? The inventory is here, this graph shows that buyer interest is extremely high and gobbling up all that new inventory coming online!
This is also for people saying "shadow inventory exists"! Well I believe it exists but it also exists in Las Vegas short sales which has tripled to quadrupled it's formerly stagnant close ratio since late spring.
These are Listing/Under Contract & Pending/Sold Trends from December 2007-September 2010.
Contracted closings are stalled because of the large amount of Las Vegas short sales that are contracted. Inventory rise is directly related to the tax credit expiring.
Mortgage applicants are quite familiar with FICO, the much-used scoring model that has a lot to say about the type of a home loan and interest rate they could qualify for. Besides being widely employed in most consumer credit requests, it's nowadays also checked in many other situations, like in insurance and employment.