Las Vegas Market Update (SUPPLY side of the Market)

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"Since April of 2013 inventory has been on the rise week after week because of the decrease in demand explained below. We are now around 8,000 available homes for sale and we are on track to hit 10,000 by the end of the year. If this happens (which I am fully confident it will) we will then see the market shift from a seller's market to a buyer's market in 2014..." Read the full article at the link above.
  • October 17 2013 - Las Vegas
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Answers (4)

Since that article was written 12 days ago the inventory has increase an additional 600 homes.
  • October 29 2013
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Profile picture for froi
I'm not even in real estate and I saw this coming. It's a bubble market again. No new jobs created to help sustain this current market. Market rise created by investors and the government run media. Bring on the deals again.......

Banks are dropping the rates cause they see the bubble starting. 

I hope a lot of these "investors" get stuck with their investments.....
  • November 01 2013
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Well, my original post was on Oct 17th...today is Nov 13th. Using the same search criteria as above now gives a result of over 8,800 properties available for sale. That is over a 10% increase in available inventory in less than a month. This just shows the trend is continuing and we should expect a buyer's market later in 2014. 
  • November 13 2013
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Hi Robert, I agree with you. I just pulled our MLS numbers yesterday and we are at 8,631 total units in the valley. I think by February/March we will be back to a normal inventory supply that we have not seen here in town for a few years now. Buyers will see pricing adjust to normal levels if the inventory comes back up in the next few months and if homes have been on the market for awhile they will have to start lowering their prices to compete with all the new inventory that will be coming up next year. 
  • December 11 2013
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