Economic Conditions for the Las Vegas Valley (includes Henderson & North Las Vegas)
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Foreclosure/Short Sale Listings (4/15/2011): Total Listings 14125; Short Sales: 7044, 50% of all listings; Bank Owned Listings: 2822, 20% of all listings. Short sale and REO listings consume 70% of total listings New Home Sales (March 2011, units sold): 276 Year Change -35.4% (excl condo conversions, highrises) New Home Sales (March 2011, median price): $195,950 Year Change -7.1% (excl condo conversions, highrises) Existing Home Sales (March 2011, units sold): 4159 Year Change +3.9% Existing Home Sales (March 2011, median price): $113,000 Year Change: -9.2% New Home Permits (March 2011): 339 Year Change -53.6% Rental Rate (MLS Monthly Average Feb 2010): $1501/month My analysis: Distressed listings (foreclosures and short sales) are 70% of total listings. Units of homes sold impress...
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