Las Vegas Real Estate Trends
Posted on January 30th, 2010 by Ruth Ahlbrand
Las Vegas Real Estate Trends – weekly summary:
- Short sales averaged just about 7 percent to 8 percent of all existing-home closings in early 2009, but averaged 22 percent of the total sales market by January of 2010.
- The S&P/Case-Shiller 20-city home price index increased 0.2% in November from October and gained 5.3% from November 2008 – positive trend for national Real Estate Market and good Las Vegas Real Estate Trends
- Affordability is certainly continuing to driving Las Vegas Real Estate – housing values have dropped approximately 60% since 2006 and we don’t think this will change moving forward.
- Consumer confidence nationally increased to 55.9% in January from a level of 53.6% in December; we are starting to see this in Las Vegas as well.
- The US economy grew at a 5.7% pace in the fourth quarter according to the advance estimate for GDP. This was the strongest pace of economic growth in more than six years.
We hope this Las Vegas Real Estate Trends short Blog has helped to give you more insight about Las Vegas Real Estate – Please Call 877.360.2030 or Contact Us if we can be of any assistance to you.
Filed under: Las Vegas Market