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 demand is way under-represented in the graph.

As mentioned in my previous posts this year, look to see a small and steady median price increase every month.