Great News for Las Vegas Real Estate! For the first time in three years we’ve posted a quarterly gain as of December 2009; our prices were still down for 2009 versus 2008, but many analysts think the quarterly numbers indicate we are transitioning to a “normal market.”
Our prices have dropped about 15% the last year, but this is good news when you contrast the 1-3% price erosion on average that we saw per month during much of the last 18 months (approximately).
Other Great News for Las Vegas Real Estate continues to be our levels of affordability of Las Vegas Homes. We now have levels of affordability for Las Vegas Real Estate that enable many consumers around Las Vegas to buy a home and have some reasonable assurances that it will appreciate moving forward.
Investors continue to drive Las Vegas Real Estate, which is good news! Approximately 40% of all Las Vegas Homes sold in the month of December were all cash offers. Las Vegas has also seen a reduction in the inventory of homes that we have available down to about a two and a half month supply, which is helping to stabilize the market and strengthen investor confidence.
So, it’s great to write about great news for Las Vegas Real Estate – be sure to connect with us on Twitter for some informed bon motes about Las Vegas Real Estate.
This is great news for Las Vegas Realtors and for the the country’s market, in effect.