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Recent housing statistics shows recovery in the Las Vegas market.

The Las Vegas multiple listing service listed through GLVAR shows 18107 single family homes currently on the market.  At one point in 2006 there were as many as 25,000.  More positive news for sellers is that we currently have 4342 homes in escrow considering we sold only 900 in Jan this is huge for our Real Estate Market.

Bank Owned properties inventory for sale has been reduced as well from 2200 units down to 1750. There are 1240 Bank Owned properties in escrow.

What does all this mean?  It’s all about supply and demand. With rates coming down and sellers becoming realistic about the price they need to list their home if they want to sell it!! - is our correction  here!!!