Las Vegas Real Estate News Homes for sale in Las Vegas Market Update April 2, 2012. As you can see from some of my previous updates we are still seeing our inventory drop, even with homes coming on the market, the good ones are of course going under contract quickly, even if they are a Las Vegas Short Sale
There are approx 5,800 homes for sale in the Las Vegas area that do not have offers on them per the local MLS.
Of that there are less than 888 of them that are foreclosures.
This is for single family homes without contracts on them.
Our pending and homes with contracts on them are approx 12,804
Las Vegas Real Estate Housing Market Update~ Vegas Inventory March 22, 2012
Las Vegas Real Estate Agent Housing Market Update~Inventory Still Dropping (Below 7,000) March 9, 2012
Las Vegas Real Estate Agent Housing Market Update~ March 3, 2012
The Las Vegas area homes available for offers has continued to drop again this past month largely in part to the foreclosure law law AB 284 that took effect on October 1, 2011.
Also, what may be keeping some homes off the market is the anticipation from some homeowners that the big bank settlement may somehow help them. Unfortunately for many Las Vegas homeowners they will wait only to find out there is no help for them and then those homes may eventually come on the market as a a Las Vegas short sale or if they wait too long it may become a foreclosure.
What this means for a Las Vegas home seller is "Now" may just be the right time for you to put your home on the market as there are buyers looking for great homes to buy. It doesn't necessarily mean your home value will go up, but you may have a better chance to sell it over the next few months before the potential other homes hit the market.
What this means for you as a Las Vegas home buyer is.....less homes to choose from and when you do see one you like, don't wait, get your best offer in right away. You need to make sure you are PREAPPROVED to buy before you start your home search. If you are ready to take that step to get preapproved give me a call because the rates are low and you may be able to buy a home for what you are paying in rent.