Created by RE/MAX Advantage for RE/MAX Advantage.
Headline
Did the sub-prime market have a bigger play in our local market than originally thought? Pending index this week is the second lowest to date for 2007. New to the snapshot is the high-rise and loft sub-market. The high-rise sold numbers are closed within the last 30 days - producing an incredible 41 months supply.
The last 7 days of the Las Vegas valley marketplace
Total Listings SFR 18590
Condo/TH 5408
Total 24083 (up 4165 (28.3%) since 1/1)
Vacant units SFR 41% (unchanged)
Condo/TH 52% (unchanged)
Total 43% (unchanged)
Total Pendings FR 2652 (+35/week)
Condo/TH 581 (-2/week)
Total 3233 (+33/week)
Pending Index 134 (-1 from last week)
Short Sales SFR 1335 (7% of total listings)
(ER,EA status) Condo/TH 149 (5% of total listings)
Total 1484 (6% of total listings)
High-Rise & Loft Available 699
Pending 35
Solds 17 (41 month supply)
Supply (months) 13.76 (1 day increase in last 7 days)
March Solds 1931 (4th straight monthly increase)
Monday's 30yr fixed 6.250% 1pt origination
.125 increase from last week
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. Shortsales 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)
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