**Spring Buying Season is in Full Swing!**
After the tax credit expired last spring, we experienced a rise in inventory through November. With the spring season here - combined with low prices and interest rates - we are now seeing inventory snatched off the shelves again!
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-February 2011.
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.