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
Krista,
For the last few months that's the positive news and it's welcome.
Matt,
Leveling out is great news, hopefully next month it goes down again.
Michael,
Let's see how it plays out in the coming months.
Terry,
Very true. Overbuilding just got out of hand for a while.
George,
The turnaround appears to be right around the corner.