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 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-January 2010.
I do expect a frenzy of pendings & closes as the tax credits for first time buyers comes to a contracted halt at the end of April. Pendings have also begun their traditional "spring" rise. Let the closings begin!
Your updates are great. I too am ready for the closings to begin. Have a great night and a great week.
Hi Renee..Look at these pending sales growing and the listing inventory falling, your Spring is going to be crazy.
Very nice chart and a snapshot of your local market. . .if I was looking for real estate in Las Vegas, I'll be calling you
Renee
I bet it's great that old inventory is moving and new ones are coming on for sale.
From the desk of David Dee,
Renee, any cool graph! Looks like inventory is going down since many are going pending. Market appears to be picking up.
Renee,
The "under contract" numbers grew nicely over the last several months, now we just need the "sold" bars to get longer.
Looks like your inventory is going, going, going down. That should be great.