Las Vegas housing market gradually improving

As the spring advances toward summer, the Southern Nevada real estate scene continues to show signs of slow improvement. The long-expected recovery is still fragile and is in its early stages, so it'll be a while before things return to a more balanced market environment. The mortgage industry, despite its own problems, is one key sector that has been helping all along with low interest rates and its cooperation will be sorely needed in the future, too.

In the month of April there were 1,794 single-family home sales in Las Vegas, up about 20% from March, reports GLVAR, or Greater Las Vegas Association of Realtors. This turns out to be the fourth consecutive month when the numbers have grown, and done so decisively, a very encouraging trend. In addition, the sales figure is almost 30% higher than the one from April of 2007, another piece of good news. So, the sales side is doing very well right now.

Read more by clicking on the link in the second paragraph.

 
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2 Comments on Las Vegas housing market gradually improving

I clicked over and read the rest of the story as Paul Harvey would say and it was a little less rosy, but informative. Water always finds its own level, they say and the market works like water. Vegas and other hot markets fueled by speculation were artificially inflated for quite some time and now they have to find the appropriate level. Not the end of the world, just a lull. Thanks for the info.

05/08/2008 09:39 PM by Chris Compton (RE/MAX Greater Atlanta)

Chris,

The cycle is now working its way out of trouble.

05/09/2008 06:05 PM by Esko Kiuru - Las Vegas NV Mortgage Consultant (Sinifox Financial)

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Loan Officer: Esko Kiuru - Las Vegas NV Mortgage Consultant (Sinifox Financial)
Esko Kiuru - Las Vegas NV Mortgage Consultant
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