The real estate market has been rebounding all across the United States. I cannot speak for most areas but I can tell you here in the Las Vegas valley, it has been down right crazy. Multiple offers are coming in within minutes of properties hitting the MLS. It doesn't even take a couple hours is most cases. With prices in the local area up 20-30% over the past 6 months. I had a client yesterday look at a small townhouse and it is priced at $75,000 and she said "My friend paid $50,000 for hers 6 months ago adn she lives right across the street. Why did the price go up?" it is all about supply and demand. These particular townhouses cannot be rented out per the home owners association. Due to the fact that investors are snapping up properties all over town it is driving up prices everywhere in the city.
The best part about the prices of homes going up is that may residents are no longer "under water" on there homes meaning they could sell and actually put some cash in their pocket. That is a big change from the past few years.
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