Market Information Page
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Featured Articles
Home owners can rebuild credit after foreclosure or shortsale... October 10, 2009
Housing Recovering isn't as close to reality as experts expect... October 11, 2009
Record Streak Continues for Pending Home Sales... October 5, 2009
Property Tax Increase Addressed... October 3, 2009
Las Vegas hits median for affordable homes in nation... September 24, 2009
The Nancy Storey Team's goal it to inform our clients with the latest real estate market data. Below are several articles that we have identified specifically for you, to assist you in making an educated purchase decision. Be sure to check back from time-to-time for the latest information as we will update this page regularly.
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Market Overview
Nearly 70 percent of the Las Vegas-area houses and condos that resold in July were foreclosure resales, meaning those homes had been foreclosed on in the prior 12 months. That was the same as in June but
up from 62.5 percent in July 2008. Foreclosure resales peaked in April at 73.7 percent of total resales, according to MDA DataQuick of San Diego. The firm tracks real estate trends nationally via public property records.
Nearly 70 percent of the Las Vegas-area houses and condos that resold in July were foreclosure resales, meaning those homes had been foreclosed on in the prior 12 months. That was the same as in June but
up from 62.5 percent in July 2008. Foreclosure resales peaked in April at 73.7 percent of total resales, according to MDA DataQuick of San Diego. The firm tracks real estate trends nationally via public property records.July marked the 16th consecutive month in which sales of existing single-family detached houses rose on a year-over-year basis. The 3,925 single-family house resales last month were the highest for any July since 4,555 sold in July 2005. Resale condos have seen an annual sales gain for 13 straight months and in July sales were the highest for that month since 2005.
Sales of newly built homes remain extremely slow, largely because home builders can’t compete with discounted foreclosure resales. Last month’s 430 new-home sales fell 9.5 percent from June and fell 44.7 percent below a year ago. July’s new-home total fell about 74 percent short of the average number sold in that month since 1994, when DataQuick’s complete Las Vegas region statistics begin. The lowest month for new-home closings was January 2009, when 249 sold.
Sales of newly built homes remain extremely slow, largely because home builders can’t compete with discounted foreclosure resales. Last month’s 430 new-home sales fell 9.5 percent from June and fell 44.7 percent below a year ago. July’s new-home total fell about 74 percent short of the average number sold in that month since 1994, when DataQuick’s complete Las Vegas region statistics begin. The lowest month for new-home closings was January 2009, when 249 sold.
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Featured Articles
Home owners can rebuild credit after foreclosure or shortsale... October 10, 2009
Housing Recovering isn't as close to reality as experts expect... October 11, 2009
Record Streak Continues for Pending Home Sales... October 5, 2009
Property Tax Increase Addressed... October 3, 2009
New law for home loan consultants poses hurdle... September 30, 2009
Las Vegas hits median for affordable homes in nation... September 24, 2009
Uplifting quarter in homes market... August 26, 2009
Nevada foreclosures lead the nation... August 21, 2009
Las Vegas area homes prices edge up... August 20, 2009
Las Vegas home sales rise, inventory down... August 12, 2009
Analysts see prices at bottom... July 22, 2009
Lawyer's Title Las Vegas Market Update... November 8, 2009
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Market Graphs
Lawyer's Title Henderson Market Update... November 8, 2009
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Market Graphs
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