Las Vegas home sales increased by 78% in the month of April compared to the same month last year. That is 13 consecutive months that home sales have increased over the same month from the previous year. Granted the drop in Las Vegas home prices can be attributed to the increase in home sales but none the less it’s still great news for the Las Vegas Real Estate Market.
Even with the increase of bank owned homes hitting the market, we have seen a steady decline in housing inventory over the last 12 months. This is one of the reasons why we have multiple offer situations on homes priced below $150K. We are even seeing homes sale above list price, which is another good sign the market is beginning to stabilize.
It’s not surprising that Las Vegas is one of the real estate markets that is showing signs of recovering. According to the New York Times, Real Estate Markets that crashed early are showing signs of recovery. Is you real estate market one of them?
For more information on the Las Vegas Real Estate Market, please visit us on our Las Vegas Real Estate Blog.