In Jan. 2008 there has been a total of 19,777 Single family homes and 5,320 condos for Sale in the Greater Las Vegas area. From this only 20% of the Single family homes and 16% of the condos have been selling.

Comparing to the same time last year there has been a drop of 39.5%. This has caused the number of foreclosure to increase in the Las Vegas Valley. The predictions would be that the Las Vegas area will still be a soft market till at least the early part of 2009. With the interest rates coming down more and more this will create a tremendous buying opportunity for those that have been sitting on the sidelines.