March Soars Past February and Betters Last Year! Single family residential (SFR) closings for March were up 31% from February and 6.6% better than March 2010. The median sales price of an SFR dipped 1.6% to $125,950. Overall inventory continues to slowly shrink while available REO inventory remains steady at the 2800 level. Average SFR closings … More Las Vegas Market Update – April 2011
February Makes Gains Over January and Last Year! Single family residential (SFR) closings for February were up 3.3% from January and 8.8% better than February 2010. The median sales price of an SFR also improved by just over 2% to $128,000. Overall inventory continues to slowly shrink even as demand remains steady. This is also … More Las Vegas Market Update – March 2011
January takes a little dip! Single family residential (SFR) closings for January were down 3.8% from December 2010 but at 2509 closings it is still the second best January on record. The median sales price of an SFR dropped to $125,350 for a decline of 5% from December. REO sales at the lower price points … More Las Vegas Market Update – February 2011
How Did the Las Vegas Market Fare in 2010? 2010 ended up being a stellar year for closings with only 2009 and 2004 being slightly better. Demand remains strong despite the expiration of the first time home buyers tax credit. The following chart can also be downloaded for your use. Click here to download as … More Las Vegas Market Update – January 2011
A Visual Look at How the Las Vegas Market has Changed! It’s so interesting to listen and read all of the national pundits that take nationwide data to proclaim how grim the Las Vegas market is and how much more it will decline in 2011. Let’s start by dispelling the myth about how the nature of … More Las Vegas Market Update – December 2010
Bank of America announced a moratorium on forecloses effective October 9, 2010. Single family residential (SFR) closings declined by 13 units from August sales but were down 552 units or (-16.4%) from September 2009. Median sales prices have fluctuated between $135,000 and $140,000 throughout 2010. This demonstrates the stability of the Greater Las Vegas Market … More Las Vegas Market Update – October 2010
A New HomePath Program from Fannie Mae! The mortgage giant quietly launches the HomePath program, which offers subprime-era terms for buyers: minimal down payments, no appraisals, no mortgage insurance and low minimum credit scores. For the full story see the Los Angeles Times Business article, written by Kenneth R. Harney, dated September 5, 2010 … More Las Vegas Market Update – September 2010
Have a Happy 4th of July! June single family residential (SFR) closings improved 14% over May sales with a modest decline in the median price at $140,000. June witnessed a noticeable shift away from REO and Classic closings in favor of Short Sale closings. Contemporaneously, available REO and Short Sale listings are up 15% and … More Las Vegas Market Update for June 2010
January 2010 Shows Improvement over January 2009 Single Family Residential closings for January 2010 totaled 2608 which is a 17% increase over January 2009. Additionally, townhomes and condos saw added 594 closings which respresent a 35% increase over the same period in 2009. The availability of bank-owned listings has declines to under 1900 available listings in the Greater Las Vegas area. Short … More Las Vegas Housing Stats – January 2010 Update
2009 Resale Closings Hit Their Mark! Total Single Family Residential closings for 2009 totaled 38,127 which is a 53% increase over 2008. Additionally, townhomes and condos saw another 8752 closings which respresent a 137% increase over 2008. In fact 2009 closings exceeded those of 2005 and this market is poised for a similar year in … More Las Vegas Housing Stats – 2009 Wrap-Up
Forrest's Training & Education 