October Market Conditions

Las Vegas Foreclosures, Las Vegas Home Sales, Las Vegas Short Sales.

OCTOBER MARKET CONDITIONS

Inventory is increasing due to a growing number of REO’s (Foreclosures) in our market. Activity has fallen off since the tax credit has expired. Las Vegas home prices are holding steady but we believe that prices may fall over the next several months. This is because inventory continues to grow and activity continues to decrease as heading to the holiday season. Short sales still remain predominant listing type in our market. While the banks are becoming more proficient at short sales, they are still dealing with many, many changes.