Perfect Storm For Las Vegas Home Buyers

Real Estate Agent with Simply Vegas


For the last couple of years all over the mainstream media, internet, blog, etc all I have heard and read is how Las Vegas is number one in foreclosure, unemployment is up to record high's and a bunch of other negative news. Not too many people report about positive things happening around the valley. For example this year (2010) we are in position to close over 50,000 homes. As of today Dec 10 2010 we have closed over 41,900 homes on the MLS. The 41,900 plus homes do not include non MLS sales such as new home sales, homes sold at auction or any homes sold without a Realtor. It will be interesting to see exactly how many homes will be sold in 2010 altogether. Make sure to check back in the beginning of the year I will be posting a update sharing the exact number of homes sold in 2010 including non MLS sales. More then half the homes sold so far this year were priced under $200,000. Right now many people who were once not able to afford to purchase a home can become a homeowner and in many cases their mortgage will be cheaper than paying rent. This year interest rates hit record lows and so did home prices making it a perfect storm for Las Vegas home buyers.

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