Las Vegas Real Estate Market Snapshot
8.6.2007
Created by RE/MAX Advantage
Headline
Listing inventory shows very small gain.
Only 11
more homes on the market this week versus this week. That is the good news.
Pending sales continue a 6 week decline
and the Pending Index hits a year low for the 3rd time in 4 weeks. July's
total closings (1586) were the lowest for the year. July is normally the most
active month for closings over the last 5 years. Repo and shortsale homes
continue to increase their portion of the market with now an estimated 18% of
the total homes on the market.
Look for the market to continue to shrink in sales as credit continues to
tighten. American Home Mortgage filed for Bankruptcy in the last 7 days ‐ a
top 5 retail and
wholesale lender. More are sure to follow as investors are not plentiful in
the mortgage securities market. Loan qualifying will continue to become
increasingly difficult and programs will require down payments. I forecast
home prices to accelerate depreciation trends for the near future while the
money markets settle.
Entire MLS Area 101-606
|
|
Total Available Listings
|
+/- last week
|
|
% Vacant
Listings
|
+/- last week
|
% Shortsale Listings
|
+/- last week
|
|
Pending
Listings
|
+/- last week
|
|
Index
|
+/- last week
|
|
Sold Last
30 Days
|
+/-
|
Months
Supply
|
YTD Sold Listings
|
vs 2006
|
|
4 week
trend
|
|
4 week
trend
|
|
|
SFR
|
20779
|
41
|
↑
|
42.9%
|
+
|
10.6%
|
+
|
|
2207
|
-
|
↓
|
|
|
|
1199
|
+
|
|
10483
|
|
|
CN/TH
|
5655
|
-30
|
↓
|
52.5%
|
+
|
8.4%
|
+
|
|
457
|
-
|
↓
|
|
|
|
289
|
+
|
|
2375
|
|
|
Total
|
26434
|
11
|
↑
|
45.0%
|
+
|
9.3%
|
+
|
|
2664
|
-
|
↓
|
101
|
-
|
|
1488
|
+
|
17.76
|
12858
|
-37.5%
|
Henderson Sub-Market
|
|
Total Available Listings
|
+/- last week
|
|
% Vacant
Listings
|
+/- last week
|
|
|
|
Pending
Listings
|
+/- last week
|
|
Index
|
+/- last week
|
|
Sold Last
30 Days
|
+/-
|
Months
Supply
|
|
|
4 week
trend
|
|
|
|
|
SFR
|
3575
|
+
|
↑
|
41.1%
|
+
|
|
|
377
|
404
|
↓
|
|
|
|
236
|
+
|
|
|
|
CN/TH
|
812
|
-
|
↑
|
56.4%
|
-
|
|
66
|
73
|
↓
|
|
|
|
47
|
+
|
|
|
Total
|
4387
|
+
|
↑
|
43.9%
|
+
|
|
443
|
450
|
↓
|
101
|
-
|
|
283
|
+
|
15.5
|
|
|
Rentals Supply
|
|
Available
|
4040
|
|
|
2.9
|
|
Leased
|
1417
|
|
|
↓
|
Hi-Rise Sub-Market
|
|
Total Available Listings
|
+/- last week
|
|
% Vacant
Listings
|
+/- last week
|
|
|
|
Pending
Listings
|
+/- last week
|
|
|
|
|
Sold Last
30 Days
|
+/-
|
Months
Supply
|
Sold
YTD
|
|
|
4 week
trend
|
|
4 week
trend
|
|
|
|
Hi-Rise
|
678
|
+
|
=
|
77.2%
|
-
|
|
|
76
|
-
|
↓
|
|
|
|
17
|
+
|
48
|
119
|
|
Agents & Brokers in MLS Repo 30 yr Fixed
Weekly snapshot is computed every Monday after 12 noon. Pending index (pi) is
relationship to inventory. Index set on 153 on 1/1/2007. 300 is considered a
market in relative equilibrium. Short
sales are available listings as indicated in the MLS. All data taken from the
GLVAR MLS. All homes (not manufactured) condos and townhomes are included in
this date located in the immediate Las
Vegas valley (mls 101-606). 30 yr fixed interest rate is with 1 pt
origination.
;)
;)
