Vegas Housing Inventory Coming Back Up
It seems as though housing inventory is coming back up. As of 7/26/2013 the local MLS is showing 4531 homes, condos, town homes, on the market in ER status showing no pending or contingent offers, that is more than a 50% increase from our lowest point, of 3016 properties on the market back on March 2013. Some of the can be contributed to new construction on the market, more equity sellers since prices have come up, and also with interest rates rising less demand. I think this is a good sign as the rapid price increases over the last year could not hold up and buyers were being priced out of the market. Now hopefully FHA or VA buyers will have a chance to buy in the under $200,000 market. This signals perhaps the market is moving more towards equilibrium.