LAS VEGAS HOME SALES BY QUARTER !!!

Here’s what’s up; SALES VOLUME!   

We are going on four consecutive years of increases in home sales.  Is there a DEMAND for housing in Las Vegas today?  

Apparently so, because BUYERS are BUYING approximately 50,000 homes per year in Las Vegas.

Now, here’s what’s down: PRICES: We are going on five consecutive years of declining prices.  So, why are prices still falling if DEMAND is so high?  

The answer is SUPPLY.  

Prices cannot increase as long as SUPPLY is equal to or greater than DEMAND.  And the SUPPLY of Foreclosures, Short Sales, and Auction Sales will likely keep pace with DEMAND for another year or two; so don’t look for a rebound in home prices anytime soon.  

But hang in there. . . because the housing market in Las Vegas today is undervalued and overcorrected; and if you want to look like a genius five years from now, buy all the Las Vegas real estate you can today.