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Category: Market Stats

  • March Supply, Demand, Prices. Las Vegas Housing Market

    March Supply, Demand, Prices. Las Vegas Housing Market

    Supply is way down, demand is very strong and new inventory prices are reflecting this. In the graph below, demand is represented by homes in-contract. However, this doesn’t reflect the true demand; what is not captured is all of the people looking to buy who have not yet secured a purchase agreement. Thus the real…

  • And they did. Prices go up on Las Vegas real estate.

    And they did. Prices go up on Las Vegas real estate.

    As I predicted in my posts in January here and here, prices for houses in Las Vegas went up. Look for more upward price pressure as inventory continues to drop to way below normal-market levels.

  • Glut of Las Vegas Home Inventory? You Might Have Been Misled.

    Glut of Las Vegas Home Inventory? You Might Have Been Misled.

    A common perception is that Las Vegas has a “ton” of inventory. For those that have been actively looking to purchase a property in Las Vegas, especially entry-level houses, have experienced the opposite. Lets examine the market to find out the reality: Take a look a the Foreclosure Filings graph below from ForeclosureRadar.com. This graph…

  • Las Vegas Foreclosure Inventory Tightens More

    The graph below is from ForeclosureRadar.com. The green line “Notice of Default” is the bank filing telling the homeowner you have not paid your mortgage and the next step is a foreclosure filing (Notice of Sale). As you can see, the defaults went to near-zero in October due to some complicated state regulations. So there…

  • Homeowner Forecloses On Bank.

    In this news story, a homeowner who was wrongfully foreclosed on (they paid cash for the house!), gets even with Bank of America.   http://www.digtriad.com/news/watercooler/article/178031/176/Florida-Homeowner-Forecloses-On-Bank-Of-America From DigTriad.com / WFMY 2 News

  • Shadow Inventory in Las Vegas. Not what you think it is.

    “Shadow inventory” are properties that are either foreclosed on or are expected to be soon and are not on the market yet. Investors often ask me about the “huge shadow inventory” looming in Las Vegas which they believe will some day flood the market. My response is, don’t always believe what you read on the…

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