The number of distressed homes in the Las Vegas Valley has dropped to the lowest level in years according to newly released data. Distressed homes include both foreclosures and short sales. Foreclosures accounted for just 2% of the market last year. That is down from 4% in 2016 and down from a high of 43% […]
Tag Archives: Market Update
Distressed Housing at Lowest Levels Since 2007
Completed foreclosures and pre foreclosure activity have dropped to their lowest level in the U S since 2007. Completed foreclosures in July of this year totaled approximately 38,000 which was a decline for 24.4% from last July. July 2015 also represents a 68% decline from the peak number of completed foreclosures that was reached in […]
Valley Home Prices Continue to Stabilize
Las Vegas Valley home prices are continuing to show signs of stability early in 2015. The median price for a single family home in February reached $205,000. This is up 2.5% from January and up 7.9% from 2014. Median prices rose about 10% in all of 2014 which was less than half of the 24% […]
Average Housing Market a Good Thing
The Nevada Business and Industry Department’s Housing Stability Index gave our market a C grade for the second quarter of this year. That is up from a D+ from the second quarter in 2013. Analysts say that if our market is able to hang out in the C range for the foreseeable future that might […]
North Las Vegas Demolishing Abandoned Homes
North Las Vegas City officials are bulldozing abandoned homes that have become targets for criminal activity and squatters. This is a practice that has become popular in the Rust Belt and officials felt is a necessary step to take in order to eliminate the ugly eyesores of these vacant houses. Asbestos removal and demolition began […]
2014 So Far So Good
The latest numbers released from the Greater Las Vegas Association of Realtors showed that median prices continued to increase throughout the first half of 2014. This is especially good news considering that sale numbers fell, inventory improved and investors were less active. The median price of a single family home in June was $199,900, which […]
Southern Nevada Economy Seen as Strengthening
Stephen Brown, director of the Center for Business and Economic Research at UNLV, feels that current trends in our region are pointing upward for our local economy. He sees Southern Nevada’s economy moving towards pre-recession levels in tourism, gaming, construction and the housing industry. “The good news,” Brown said, “is that the Southern Nevada economy […]
Delinquency Rates and Foreclosures Down
Nevada ranks second in 90 day plus delinquency rates and 8th in terms of loans in foreclosure. The Mortgage Bankers Association released their first quarter national survey of mortgage delinquency data. From a national perspective, mortgage delinquencies and foreclosures declined during the latest reporting period. New Jersey reported the highest rate of foreclosure starts and loans […]
Nevada Housing Market Continues to Stabilize
Nevada’s housing market continued to show signs of stabilization in January. One of the major signs of that stability is that big institutional investor buying has slowed down to just 6.5% of sales. This is down from 10.7% a year ago. Short sales also slowed down to 13.4% from 22.9% a year ago. Closer to […]
2013 Excellent Year for Local Home Builders
Home builders in Southern Nevada sold 7,303 new homes in 2013. This was up 32% from 2012. Builders also pulled 6,952 new-home permits in 2013, which is up 18% from the year before. This is a good sign for more construction to come. Last month, new homes in the Valley sold for a median price […]