LAS VEGAS REAL ESTATE | HOMES FOR SALE IN LAS VEGAS | LAS VEGAS NEW HOME

Las Vegas real estate market update and resale home sales for October 2008.  Do we see light at the end of the tunnel?  Home prices seem to have reached the lowest and month to month sales have increased.

Big housing market new this past month was the low amount of only 329 new building permits for North Las Vegas, Henderson and Las Vegas, Nevada.

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Las Vegas real estate market update and resale home sales for September, 2008.  Falling home prices and a big drop in sales shows a continued weakening of the residential real estate market.

New homes sold in Las Vegas, Nevada for the third quarter was 2,545 units.  Year to date showed a decrease of 50 percent or 2,546 new homes.  The strongest quarter with 11,198 sales was registered in the fourth quarter of 2005.

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Las Vegas real estate market update and resale home sales for August, 2008.  Residential foreclosures and short sales account for nearly 80 percent of residential real estate sold on the multiple listing service.

Las Vegas home sales through August equal 18,720 homes a decline of two percent.  New homes sold equal 7,324 units or a decrease of 48.3 percent year to date.  August had a total of 829 new homes sold in Las Vegas, NV.

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Serrano new homes for sale offer homes in $200,000s at Mountains Edge Las Vegas.  A grand opening by Pardee will be for the newest development within the southwest master plan on September 6 and 7th.

Serrano’s affordably priced homes include three floor plans with one and two story plans with up to six bedrooms.  The average home site is approximately 4,675 square feet and range from 1,850 to 2,682 square feet.

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Seller financed down payment assistance will stop as deadline nears.  Home buyers looking for financial assistance after September 30, 2008 could be in for a surprise unless members of Congress create a new bill, the Federal Housing Administration’s Seller financed Down payment Reform and Risk-based Pricing Authorization Act (H.R. 6694).

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Las Vegas real estate market update and Las Vegas homes sold for July 2008.  Las Vegas home sales in July increased to 2,592 units.  This is the most sold since almost three years ago, Sept. 2005.  The Greater Las Vegas Association of REALTORS reported 23,423 homes remained in inventory.

Due to the high amount of short sales and bank foreclosure homes, inventory has fallen 2.8 percent and reported sales in the mls almost doubled from the same time year to date.

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