Las Vegas Real Estate Market Snapshot March 16, 2009
Wednesday, March 18, 2009
Déjà vu on the headline? You bet. This week, it was announced Las Vegas home affordability is nearing an all-time high. The number of Pending Sales in the Las Vegas market at a almost 3 year high. Why the big increase in sales? Rates under 5%, home prices off 55% from their high, and plenty of selection are all factors. Closed sales are up 105% versus last year to date. The luxury segment is the low point of the market, off 59% from last year. Total inventory of homes is down 7.7% in past 9 weeks.


