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!


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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