2013 Las Vegas Summer Market Report

SUMMER 2013 LAS VEGAS STATISTICS-Las Vegas appears to be correcting back into a traditional sales market. That would be a market dominated by people that are actually living in using homes as opposed to investors just taking inventory. In case you haven’t seen it, most of the hedge funds have slowed or ceased their buying of rental homes and are doing IPOs on the companies to raise capital and that means they’re exiting out of the market. Story here. Properties are starting to sit longer than they were. We are also seeing higher commissions and incentives like the FHA buyers asking the seller to pay closing costs for them in order to get transactions completed. UNLV just published a report for July 2013 on the housing market, continue reading here