Could Las Vegas have already hit the bottom?!

Could it be that the Las Vegas Real Estate Market has ALREADY hit the long-waited and projected bottom of the local real estate market?  Take a look at this article in the Las Vegas Review Journal which even states that real estate in Vegas is “Undervalued”!  Compared to Las Vegas, Phoenix is currently overvalued by 20.2% and Los Angeles is overvalued by 15.4% and even former star Salt Lake City is overvalued by 16.1%!  Sales are picking up as well and we currently have a 9 months supply of resale homes at the current absorbtion rate down from 13 months!  Do you think it is a good time to buy when at the bottom or when values are on the way up?  Send me a comment and make sure to visit Vegasdreamsellers for more Las Vegas real estate information!

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One Response

  1. Sales are not “picking up”. If you combine new home sales with existing home sales, then total sales are still lower than a year ago.

    Prices are still falling, so why would you buy now? Are prices going to bottom out for only a month and then skyrocket back up? I don’t think so.

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