Monday, September 10, 2007

Housing Market Stabilizes In August

LAS VEGAS -- Statistics released Monday by the Greater Las Vegas Association of REALTORS® show that local home prices remained stable during August. The statistics also show a slight increase in the sale of single-family homes.

GLVAR representatives said the statistics show the total number of homes on the market beginning to level off with a slight decrease in the availability of condominiums and town homes listed for sale. GLVAR President Devin Reiss said this month's statistics reinforce the association's belief that the current housing market presents opportunities for people "who are serious about buying a home here."

"We continue to have historically low mortgage interest rates and a strong local economy with job and population growth that is the envy of the rest of the country," Reiss said. "If you're serious about buying a home, now may be the best time to act."

This month's GLVAR statistics include activity through the end of August. The association distributes such statistics each month based on data collected through its Multiple Listing Service (MLS), which does not necessarily account for newly constructed homes sold by local builders.

For more information on home sales in the Valley or to contact a realtor, visit the GLVAR Web site.

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