Today Standard & Poor's released the Case-Shiller home price index numbers. Recall that these tabulations end March 2012, a substantial lag. As I write this, there are just over 4,000 single family homes on the market that you can go buy today. That is just over one month of supply and is not being replenished quick enough. Further, when you slice up the inventory to what you might actually be targeting, homebuying this summer became much more challenging.
We have a price per-square-foot index for the Las V... read more
As we continue further into the seasonally strong selling season for residential real estate, many buyers are encountering a limited supply of homes, competition through multiple offers (many cash) and a muted level of new product entering the market. This is not only occuring in Las Vegas but is a condition known in other locals as well.
Buyers are reacting to both affordability and investment returns on rental properties so you have two large buyer types directed at the same property types and price ranges. Th... read more