You heard it here first! Las Vegas Real Estate recorded an 87% increase in sales from a year ago with approximately 4,702 homes sold in June 2009. This total passed the previous peak set in 2004 – clearly this market is recovering and bouncing back quickly. We called the “bottom” several months ago and statistics are supporting our analysis.
Las Vegas Real Estate Prices Stabilize
Of equal importance, our media house price of $140,000. was unchanged in June from May, although down 56% from three years ago. But, we have levels of affordability that enable working families and investors to buy Las Vegas Real Estate, which was not always the case in the “go go” years!
Analysts have noted that more affordable house prices and low interest rates are beginning to entice buyers looking for houses as a home or investment. Banks and mortgage companies heavy with costly inventory obtained via foreclosure have been eager to lower prices to draw buyers, boosting sales data.
Las Vegas Real Estate is Hot!
The hottest part of the Las Vegas Real Estate Market is the entry level price points, from $0-150K. Investors and new homeowners are aggressively purchasing these homes and we are also beginning to see some “spill over” into the next higher price tier of $150-250K, driven again by affordability, low interest rates and so much activity (read multiple bids) in the entry level price points.
Our advice – now is the time to get back into this market. If you are a Real Estate Investor we have cash positive homes that we can show you immediately, but good deals are starting to go much faster. Call us today: 877.360.2030, info@LasVegasRelocation.com; web: LasVegasRelocation.com or Twitter: RuthAhlbrand.
