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The Current Las Vegas Market
Single family residential (SFR) closings for December finished 9.4% better than November and slightly better than December 2010. Total year-to-date closed units are up just over 10% from this time last year. Traditional and Short Sale closings continue to pick up momentum over Bank Owned (REO) closings this month even as available REO listings continue their decline. Notice the trend chart below!
Market Price Changes
Bothe the median and average prices decreased during December with the median closed price of an SFR decreased by 4% to $120,000. But the real story is that 2011 closings ended up at the same level as 2009. Now the real question is; “How much political rhetoric in 2012 will turn into political reality?”