November showed another great month of economic improvements for the Las Vegas real estate market. So, if you’ve thought about purchasing a home or becoming a real estate agent, now is the time! Prices are going up and houses are selling more quickly.
List prices in Oct. 2012 were 12.47% above the list prices for Las Vegas in Oct. 2011; additionally, sales of single family homes rose 11.9% from September to October 2012. Read more on Forbes.com.
Inventory is dwindling fast! Foreclosed homes are bought up by investors so fast that many buyers looking for their next home don’ t have much of a chance. This is good for sellers and real estate agents, but not so good for home buyers. If you’re looking to buy a house in Las Vegas, or your client is, time is running out! In addition to fewer foreclosed options, foreclosed homes are selling at roughly the same price as those that were not. There are still deals to be had, but they aren’t as significant. Read “Foreclosure Discounts Gone in Some Markets” to learn more.
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