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Las Vegas Absorption Rate
jcalvert
Las Vegas resale housing inventory seems to have moved up a bit over the last to weeks.
On February 28th, 2007 I noticed that we in the Las Vegas Valley were looking at about a 7.6 month supply across the board for single family (SFR) and 13 months for condo. This was based on a supply of 16,106 for sale with 2,115 sold in the last 30 days of 2/28/07 for single family homes and 3,528 condos for sale with 247 sold in the previous 30 days.
The current number of single family homes for sale right now is around 16,322 with 1,883 homes sold in the last 30 days. This puts Las Vegas at about 8.7 months of supply.
Looking at the condo market we see the same thing. 3,607 condos are for sale with 244 closings in the last 30 days for a 14.8 month supply of condos…
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A Las Vegas (Boulder City to be exact) resident for over 20 years, John Calvert started in real estate helping first time home buyers buy their home with little to no money out of pocket using FHA financing and the Nehemiah program. Read More
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