Another Las Vegas Home Listing Milestone Reached!

Another Las Vegas Home Listing Milestone Reached!

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Another Las Vegas home Milestone Reached! Total Las Vegas home listing inventory passes the 26,000 Las Vegas home listing mark. 294 new Las Vegas home listings joined the fray in the last 7 days, about 20% more than the average weekly Las Vegas real estate increase. Moving in the opposite direction, Pending Las Vegas home sales reached the lowest number this year. These are Las Vegas real estate listings where a buyer and seller have agreed to terms and are awaiting a successful Las Vegas home close. Total Las Vegas homes closed in the last 30 days also reached a new low of 1527 Las Vegas homes. This pushes the supply of Las Vegas homes to more than 17 months. So what is happening? Vacant Las Vegas homes and short sale listings are increasing. These are institutional sellers or sellers trying to save their credit both are in "must sell" situations. "Must" selling will continue to push Las Vegas home prices down as Las Vegas home buyers are not absorbing the new inventory.

Bob Ratliff - RE/MAX Advantage - Las Vegas, NV. - 702-807-5528