national city bank: Las Vegas Homes Undervalued by 18.8% - Good Time to Buy?
- 12/08/08 10:07 PM
This according to a report by National City Bank Economics, working with IHS Global Insight. They study home valuations in 330 cities across the US, and the Las Vegas housing market was near the bottom, at 287. Their point for determining a market is undervalued is 14%, so at 18.8%, it fits well into that category.
National City's Chief Economist and developer of the model used for their study, Richard DeKaser, was quoted as saying that "for consumers an undervaluation should signal buying opportunities." He added that "Real Estate is a good buy in Las Vegas." Another comment mentions that 'flipping' won't … (4 comments)
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This according to a report by National City Bank Economics, working with IHS Global Insight. They study home valuations in 330 cities across the US, and the Las Vegas housing market was near the bottom, at 287. Their point for determining a market is undervalued is 14%, so at 18.8%, it fits well into that category.
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