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-March 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!
Hi Renee ... LOTS of info here and best of luck with the closings!!!!
Hi Renee, you are the Graphic diva, you always come up with another great way to show what is going on in your market, I love it, a lot of info at a glance.
Have a great weekend.
You've earned a gold star Renee! By my calculations your vacation can begin sometime in July of 2011. Have a blast!
Renee - I love this graph, it definitely shows what direction the home sales in Las Vegas NV are going in.
Renee, it is so encouraging to see visually how your inventory has dropped while your pendings have risen. It is a good indication for Las Vegas NV real estate.
Renee - Woo hoo ! That chart says it all ! Congrats to all of those who have recently settled or are pending. They will be very glad that they did 3 to 5 years from now.
Renee, Very, Very appropriate, I love that line...Let The Closings Begin! Perfect. Mind if I use that? I had another in mind, but I like yours better.
Thank you
Pippa: Thanks!
Debbie: It's so nice to see your face here!
Kevin: SO I should reserve a little Ocean Hut in Bora Bora now? LOL
Michelle: Thanks!
Frank & Sharon: Helps those that think they are the only buyers out there too :winkwinkwink:
Christopher & Stephanie: I would like to think so!
Scott: Knock your socks off and use that!
Those numbers look very good for sellers, which is contrary to what I have heard about Vegas.
Renee,
The red "under contract" bar keeps growing, and the green "sold" bar stretched a bit, too, from February. Good signs.
Thank you Renee, I will. Perfect.