BluefoxToday blog : Las Vegas resale house inventory stable

Las Vegas resale house inventory stable

Single-family home inventory for January stayed flat, announced Greater Las Vegas Association of Realtors or GLVAR, after having declined gradually for four successive months. That can still be categorized as positive news on account it didn't go higher. The market appears to be firming up, possibly managing in the coming months to nurse the numbers further down.

The movement in prices, however, continues to be the sore spot. Single-family house's median price sagged 17.3% from January of 2007, settling at $249,900. Foreclosed homes made up 38% of sales, becoming a major factor to the rather steep drop. Please click on the link in this paragraph to read the entire article.

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Provided by: 

Esko Kiuru
Mortgage, real estate and apartment industry analyst 

www.BluefoxToday.com - syndicated mortgage, housing and property management blog

eskokiuru@gmail.com
My cell: 702-499-1006

Comment balloon 10 commentsEsko Kiuru • February 17 2008 12:04PM

Comments

It is good to hear something positive about you area. 
Posted by Krista L. Walker, Oregon- Homes & Real Estate for Sale (Coldwell Banker Pro West) over 12 years ago
That is good news final to hear that it is leveling out...keep posting results.
Posted by Matt Ratcliffe, REALTOR (Keller Williams Realty Brazos Valley) over 12 years ago
I think we still have some more room to go down from here...
Posted by Omid Michael Shahabe (Keller Williams Southern Nevada) over 12 years ago
Inventory is the key to the recovery as long as it continues to decline we will get back to a more stable market.
Posted by Terry & Bonnie Westbrook, Westbrook Realty - Grand Rapids Forest Hills MI Re (Westbrook Realty Broker-Owner) over 12 years ago
Esko, the turn around in the market has to start some where, let's hope that this is the turn around for you. 
Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 12 years ago

Krista,

For the last few months that's the positive news and it's welcome.

Posted by Esko Kiuru over 12 years ago

Matt,

Leveling out is great news, hopefully next month it goes down again.

Posted by Esko Kiuru over 12 years ago

Michael,

Let's see how it plays out in the coming months.

Posted by Esko Kiuru over 12 years ago

Terry,

Very true. Overbuilding just got out of hand for a while.

Posted by Esko Kiuru over 12 years ago

George,

The turnaround appears to be right around the corner.

Posted by Esko Kiuru over 12 years ago

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