Renee has provided a easy to read graph on Las Vegas inventory of homes. Whether you are an investor or a first time home buyer you need to be armed with the most accurate information to make an informed choice.
**ACTIVE Las Vegas Real Estate Inventory Sees a Rising Slowdown!**
Active Las Vegas Residental Resale MLS Inventory has risen for 7 straight months but experienced a slowdown in December. This is mainly due to first time buyers exhausting the market due to their tax credit expiring - this is not due to the shadow inventory fairy bringing us more inventory!
Read more about Las Vegas Real Estate Inventory Analysis here and consumers may comment on this post.
Las Vegas Area Real Estate Market Watch was created for informational purposes only.
This is for all the buyers wondering "where is the inventory"? The inventory is here, this graph shows that buyer interest is extremely high and gobbling up all that new inventory coming online!
This is also for people saying "shadow inventory exists"! Well I believe it exists but it also exists in Las Vegas short sales which has tripled to quadrupled it's formerly stagnant close ratio since late spring.
These are Listing/Under Contract & Pending/Sold Trends from December 2007-December 2010.
Contracted closings are stalled because of the large amount of Las Vegas short sales that are contracted. Inventory rise is directly related to the tax credit expiring.