I am happy to report that there has been a distinct change, in the last three weeks. There is almost ZERO available standing inventory in the SFR entry level market (under $275K) in the South, Henderson (south) and Southwest portions of the Las Vegas Valley (Clark County).
A couple of them falling out of escrow here and there but very slim pickings! Most are dirt lots looking at a 6-8 month build. Incentives are still being offered if you use the builder's preferred lender and most are still paying a good portion of closing costs + a few upgrades. With the standing inventory disappearing right in front of our eyes, I wonder how long those will last ?!?!?!
I have been blogging about how builders are pulling building permits and decade + lows for the last several months. Recent buying activity has almost exhausted standing inventory and this is a wonderful thing for the resale market!
Permit History Present to 1994.
So have any other Las Vegas agents noticed the change?
All the Best,Realtor®
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Renee@ReneeBurrows.com
http://www.ReneeBurrows.com
Renee a decrease in builder permits an inventory is a leading indicator. You should see some absorption in a few months...hope it works for you!
kk