Nevada Real Estate >> Las Vegas Real Estate Specialist: WOW! WOW! WOW! Only 945 Residential Building Permits Pulled in Las Vegas For October 2006!

WOW! WOW! WOW! Only 945 Residential Building Permits Pulled in Las Vegas For October 2006!

Down the 6th month in a row and this is a 12 PLUS year low!

This is INCREDIBLE news for our resale market!  Let's just hope economic conditions & interest rates remain fairly stable.

Search for your new construction home and get incentives (while they are still here!)

OK Las Vegas market watchers, do you think we may be headed towards another 2004?

I think inventory will be reducing quickly by summer and hopefully see some decent (but not quite 2004) appreciation towards the end of 2007.  Economic conditions and interest rates remaining stable of course.

 

copyright 2006-2011 Renee Burrows, REALTOR®, The Force Realty  702-966-2494

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4 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • December 04 2006 08:55PM

Comments

Renee, is your predictions of the inventory reducing holding or is it leveled off or building in numbers?
Posted by Danny Smith (DISCOVER TEXAS HOMES) about 5 years ago
It's reducing in the under 300K single family market.  Small hiccup in February from subprime fiasco.  We are having MAJOR rental inventory problems that were unseen to me in January.  It is forcing rental prices up and quick.  This may be another inventory reducer with resale inventory going in to the rental inventory pool, more long term speculators and renters that turn into buyers!
Posted by Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com (BrokerThe Force Realty-REALTOR-Estate-Probate-REO-Short Sale) about 5 years ago
If new builds are down then that ought to be good for the resale market - unless demand is dropping as well....
Posted by Tony Marriott, Associate Broker, REALTOR® (Haven Express @ Keller Williams Arizona Realty) about 5 years ago
Hi Tony!  Thanks for stopping by!  Yes the entry level SFR new construction standing inventory (or lack thereof) has put a chunk into the resale market.  Rising rents will put more pressure on it and hopefully it will move into the other markets as well.  The sooner the better :)
Posted by Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com (BrokerThe Force Realty-REALTOR-Estate-Probate-REO-Short Sale) about 5 years ago

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