Pending home sales rose again, marking eight consecutive monthly gains - the longest streak since measurement began in 2001, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, said the momentum is understandable. "What we're witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month," he said. "Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery."

READ the whole article here....Realtor.org

Las Vegas area Pending and Contingent sales or resale homes are as of today per our MLS stats at 14,766. That is a great number to have, but it may take months to close a lot of them due to 8,719 of them being Las Vegas area Short Sales.