Las Vegas Market Update – October 2012

Property Management Permit Course!

First, I am going to shamelessly plug Americana’s Pre-Licensing Property Management Permit course that was recently approved by the Nevada Real Estate Division. This course is excellent even for those who want to learn more about Landlord Tenant laws in Nevada. Registration is now open.

Just click here to view the course and/or register.

However, walk-ins are welcome on Monday afternoon beginning at 3:30 pm, October 8th in our Summerlin office at 10777 W. Twain Ave.!

The Current Las Vegas Market

Single family residential (SFR) closings for September 2012 were down 13.3% from August 2012 as well as being down 17.8% from September 2011. Overall inventory continues to increase slowly as it moves towards the 5700 unit level. Most areas in Greater Las Vegas currently have approximately a 6 week supply of inventory. And again the median price of an SFR rose from $138,000 to $140,000 during September.

There was a signicant Nevada Supreme Court ruling regarding MERS on September 27, 2012.  What impact will this have on future REO inventory?  Click here for a much more detailed explanation as reported this week in Darren Welsh’s Blog!

Click here to Download the Current Equity Title Market Report

Let’s Compare Market Segment Closing Changes for the Past Year!

Las Vegas Market Momentum

What’s Happening with Available REO Listings?

Congratulations to Miguel Cabrera of the Detroit Tigers on winning the first Triple Crown since 1967, when it was last accomplished by Carl Yastrzemski.  Miguel Cabrera ended the regular season with:

  • Batting Average: 330
  • Home Runs: 44
  • RBIs: 139

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