Real Estate News: The Numbers: Southwest Las Vegas Demand for Homes is Up!

Southwest Las Vegas Demand for Homes is Up!

32.5

July 2013: Market Action Index 32.5

It's a seller's advantage in southern Nevada. A Market Action Index above 30 is an advantage to the seller. The August reporting data for July 2013 shows a Market Action Index of 32.5. There is a greater demand for sales and fewer homes listed.

Market Report Executive Summary Driggs Title Agency, Inc. (August, 19, 2013)

Upward Trends for Southwest Las Vegas, NV

The Las Vegas Valley's 89178 zip code shows inventory is tight and days on market (DOM) for single family home properties is falling. The average DOM is reported as 61 days. The other strong upward trends include the average median list price of $249,994 and average asking price per square foot at $113.  Despite the rise in prices, Buyers are at an advantage with FHA Loan Limits for Clark County for a single family property at $400,00. Mortgage buyer Freddie Mac said Thursday, July 18, 2013, the average on the 30-year loan slipped to 4.37 percent. Even with the recent gains for mortgage rates, mortgage rates remain low by historical standards! Buyers see advantages and are still interested in housing market (Fannie Mae's July 2013 National Housing Survey).

Keep informed, contact Jill Paige at  

Jill Paige Homes (jillpaige@realtyexecutives.com) and (702) 595-2922).