More good news. It’s refreshing to see the media have got bored of constantly reporting doom and gloom. Here’s what Eyewitness News had to say this week about the local housing market:
There is some light at the end of the tunnel for the Las Vegas housing market. Instead of seeing more homes go up for sale, valley residents are deciding to invest.
As time goes on, for sale signs may be harder to come by because more and more people are realizing it truly is a buyer’s market. They’re pushing their fears aside and are finally ready to take advantage of it.
For months all you saw was house after house with foreclosure signs out front. But now, after months of bad news, empty homes are finding new owners at a fast rate.
Applied Analysis says during the first week of April, there were more than 10,000 Las Vegas homes in contracted status, just waiting to be closed on. That’s double the number from the same time in 2008.
Debbie Vocum-Runyan with Fidelity National Title says they’ve seen an increase in their closings and inventory is also down, which is a good sign of a shift in the housing market. “We are definitely in a buyers market. We are not in a seller’s market yet, by any means, but when your inventory starts to go down, you are getting closer to a seller’s market,” she said.
