There have lately been small signs of improvement in the local housing market and anything positive on that front is warmly embraced. Perhaps the low mortgage interest rates are helping out, perhaps the sellers are pricing their homes more realistically, could be the buyers have realized that now is the time to make the commitment. Or it's a little bit of all of them.
The Southern Nevada Index of Leading Economic Indicators rose slightly in November to 133.06. The index is compiled by the UNLV's Center for Business and Economic Research and really is a six-month economic forecast from the month the data was collected. By and large it has been relatively flat since March of 2005.
New and existing home sales in October remain about 48% behind last year's numbers, which has been the pattern for several months and was expected. Please click on the link in this paragraph to read the entire article.