March was a promising month for Las Vegas residential real estate. Spring is here and people are finally starting to believe that now is probably as good a time to buy a home as any. Mortgage rates continue to be under 6%, meaning that the finance end is still favorable, and prices have decreased quite a bit, so there are excellent deals out in the field right now that may not last all that long.
GLVAR, or Greater Las Vegas Association of Realtors, disclosed the other day that 1,478 single-family homes closed escrow in March which is a 34.6% jump from February, representing the third monthly hike in a row. That is very encouraging. This is one of the three important components that determine the market's health and it's moving steadily in the right direction. To read the entire article, please click on the link in the first paragraph.