Tuesday, April 17, 2012

Las Vegas Real Estate - First Quarter 2012 Housing Summary

During the first quarter of 2012, home prices continued to decrease each month. In January of
2012 we saw an increase in the amount of homes sold over 2011 by 450 while in February they
decreased by 205 closings. March home sales were up by 51. There is a 2.8% increase in home
sales from the first quarter of 2011 to the first quarter of 2012.

We continue to see an increase inshort sale closings from 1741 to 3038, which is a 42% increase over the first quarter of 2011.
Bank owned property sales have decreased from 5090 in the first quarter of 2011 to 4607 in the
first quarter of 2012, while resale closings have increased from 2545 to 3132 when comparing the
first quarter of 2011 to 2012. The number of cash transactions continues to rise. We still
continue to see multiple offers on prime properties as the listing inventory is extremely low.

Call Steve Harless - 702-217-1680 if you are buying or selling properties in Las Vegas.