**Sales UP UP UP in August!!!**
We are still squeezed for inventory. Multiple offers on well priced homes are widespread. Everyone from first time buyers to investors are taking advantage of "opportunity".
Read more about Las Vegas Real Estate Inventory Analysis here and consumers may comment on this post.
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 Las Vegas 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-August 2011.
Contracted closings are stalled because of the large amount of Las Vegas short sales that are contracted.
August was overall a good month in our area also. I wasn't sure if it was seasonal or things just improving. Seems like we are way up for a short period then back down for a short period-- truly a roller coaster ride here in Michigan
Hi Renee...Love your Graphs, you make it so easy for Consumers to Understand what's going on in your Real Estate Market
WOW.
What else can I say?
Thanks everyone for the comments!
Bob: I am thinking maybe just short sales flushing out of the system??