Las Vegas Homes Inventory Still Dropping! Las Vegas Real Estate Agent Market Report

There are approx 8,902 homes for sale in the Las Vegas area that do not have offers on them per the local MLS.

This is for single family homes without contracts on them.

Our pendings and homes with contracts on them are approx .... 10,747

The Las Vegas area homes available for offers has continued to drop again this past month largely in part to the foreclosure law law AB 284 that took effect on October 1, 2011.

So, what this means is the foreclosures that are out there are taking longer to hit the market so if you are looking to buy a home now, be prepared to have your financing in order and ready to go as you will most likely be seeing multiple bids on the home you want to buy, which could make prices go up slightly in some areas.

But, there are still so many homeowners that are in financial trouble that we will still see more Las Vegas short sales and Las Vegas foreclosures, they just may hit the market at a slower pace for a while.

Las Vegas Real Estate Agent Market Report~January 31, 2011~ Las Vegas Homes For Sale

Stats are on Resale Single Family homes only per the GLVAR MLS as of this writing or as noted, covers the Las Vegas Valley, North Las Vegas, Henderson area