We live in a world of numbers and statistics – people believe you can creatively work with numbers to support any thought process imaginable. Well, we don’t believe that and neither should you! You have to look at numbers from credible sources, if you want to attach any credence to them.

The Greater Las Vegas Association of Realtors (GLVAR in realtor geek speak) just released “Sold Listings by Month” in the last few days for May - they show the patient (Las Vegas Real Estate) given up for dead by the national media is in fact training for a marathon in the desert sun.

If you look at the trends from December/January timeframe (we think this was bottom of market), the numbers have been moving upward on a continual basis. Case in point, we had approximately 2,300 Sold Listings for this month versus just over 1,000 in January and just under 2,000 in April timeframe. The trend is positive and the numbers speak volumes!

Deals, deals, deals are the buzzword of the day here in Las Vegas – we have a bumper crop of Foreclosures on the market. About one third of all resale listings in the city are in default – driving prices down by 22.5% (approximately) or about $60K from the October 2006 peak of $290,000.

We believe lower prices are moving buyers and investors back into the market. So, come on out – you can fry an egg on the sidewalk or stay cool and dry taking a tour of Las Vegas Foreclosures on our air-conditioned Foreclosure Bus Tour.

Filed under: Best Foreclosure Buys, LAS VEGAS MARKET