BluefoxToday blog : Southern Nevada home sales increase again in June

Southern Nevada home sales increase again in June

Las Vegas homeowners and would-be buyers are anxiously keeping an eye on the local real estate market. Homeowners want to see the price slide to finally come to halt as they've already lost a large chunk of equity during the last few years. Prospective buyers are trying to gauge when the time is ripe to make a move and purchase a home before values start climbing again.

The situation appears to be slowly turning favorable for both groups. As reported by the Greater Las Vegas Association of Realtors, or GLVAR, prices seem to be stabilizing now. In May the median single-family house price moved up a notch from the previous month and in June it slipped 4.9%, so it's bouncing along within a narrow band now. The actual median price came in at $225,000. Compared with the June of 2007 price, the drop is much wider at 26.2% and that can make anyone wonder how did that happen.

The truly positive trend that has industry observers raving is the sales volume of single-family houses. Please click on the link in the first 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 6 commentsEsko Kiuru • July 10 2008 11:05PM

Comments

Esko, That is great news!  Let's hope that it continues.

Posted by Tony & Darcy Cannon, The C Team (Aubrey and Associates Realty) over 11 years ago

Tony & Darcy,

We sure need to keep it up to get this market moving again.

Posted by Esko Kiuru over 11 years ago

Esko, looks like more good news for you guys.  Hopefully things will continue to go in a positive direction, and the market will be on the up swing again.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 11 years ago

The market here in Sacramento is similar.  We are experiencing more volume in sales.  However, our prices continue to lag.  It's absolutely a wonderful opportunity for buyers.  Loads of inventory and great prices.

Myrl Jeffcoat
http://www.myrljeffcoat.com

 

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) over 11 years ago

George,

It's encouraging that some numbers are now positive, so we can build up on that.

Posted by Esko Kiuru over 11 years ago

Myrl,

Excellent buyer's market over there and here and mortgage rates are still good, too.

Posted by Esko Kiuru over 11 years ago

Participate