Blankfeld Group Logo
Register Login (702) 315-7591
  • Email
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
  • Home
  • Buyers
    • Home Search
      • Our Featured Listings
      • All Available Homes in Multiple List
      • Neighborhoods
      • New Homes
    • Mortgage Calculator
    • Our Preferred Mortgage Lenders
    • Important Links
    • Buyer’s Guide
    • Buyer’s Paperwork Explained
  • Sellers
    • What’s my home worth
    • Neighborhoods
    • Seller’s Guide
    • Seller’s Paperwork Explained
  • Neighborhoods
  • Resources
    • Important Links
    • Right Sizing in Las Vegas
    • Mortgage Calculator
    • Las Vegas Real Estate NOW
    • Monthly Market Updates
    • LVR Real Estate Forms Explained
    • Buyer’s Guide
    • Seller’s Guide
  • Leasing Homes
  • Blog
  • About Us
    • Our Group
    • Testimonials
    • Our Preferred Mortgage Lenders
    • Our Preferred Partners
  • Contact
You are here: Home / Las Vegas Home Appraisals / Las Vegas Real Estate Market Update April 2012

Las Vegas Real Estate Market Update April 2012

April 13, 2012 by hblankfeld Leave a Comment

LAS VEGAS REAL ESTATE MARKET UPDATE APRIL 2012

Have you ever heard the saying “If you don’t like the weather, wait a minute.”

Well, that applies to our real estate market too. The most recent development surrounds our current inventory. As of this moment we have 5,474 single family homes available in our entire multiple list. We have 13,113 single family homes in escrow. We have closed 3,195 homes in the last 30 days.

That means we have about 45 days worth of inventory available. One of the basic premises of economics is that when an inventory of available product is low and the demand is high, prices go up. That’s not happening though. There are three reasons that pricing has not reacted to the inventory. First, the low inventory is partially a result of the lack of bank foreclosures over the last 5 months. The banks will eventually start bringing homes back to market. I do want to caution buyers however, there aren’t as many out there as you think. It’s likely that once the banks fire up their machines again the output will be the same or even less than it was last year. That’s because the banks are liking short sales. The second reason for prices not moving is the appraisals. You have heard me whine about this before, but it’s still happening. Appraisers just find it easy to bring homes in low and there is no way we can get them to allow prices to start moving in the right direction. The third reason, is that buyers are still cautious. There is a real sense that we may see another downturn in pricing as a result of either interest rates going up, or demand drying up.

All of these reasons have some validity. There will come a day, in the not too distant future when prices will start to rise. That’s when the buyers will all want to buy.  Some of the wealthiest people in our country made their money in Real Estate markets just like this!  Pay attention buyers.  You will be wondering in 5 years why you didn’t buy now.

Filed Under: Las Vegas Home Appraisals, Las Vegas Home Sales Tagged With: appraisals, balance, buyers, buying homes, downward market, economy, foreclosure, home appraisals, inventory, las vegas, lenders, listings, market, mortgage, negotiate, opinions, real estate, realtors, sellers, selling homes, short sales, trends

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Subscribe to our BLOG

Please subscribe to get updates on all of our Blog Posts.

New ListingNotifications

  • Email Alerts for New Homes
  • Save Your Favorites
  • Price Change Notifications
  • Search & Sign Up Now!
Sign Up

What's YourHome Worth?

Find Out

Categories

  • Home Buyers
  • Home Improvement Tips
  • Home Sellers
  • Las Vegas Foreclosures
  • Las Vegas Home Sales
  • Las Vegas Property Management
  • Las Vegas Real Estate Radio Show
  • Las Vegas Rentals
  • Las Vegas Short Sales
  • LV Real Estate Radio
  • Market Reports
  • Personal Development
  • Real Estate News
  • RERNLV
  • Team Events
  • Team Stuff
  • Thursdays At 3
  • Uncategorized

Client Testimonials

"Exceptional. From our first conversation to our last, Mr. Blankfled handled the sale of our home perfectly! He went out of his way to make sure we were... continued"
- Google Review (09/19/2019)
View All

Listing Notifications

Search & Sign Up! New listings delivered to your inbox!
Sign Up Now

Stay Connected

  • Email
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter

The Group

Knowledge Matters, Over a Century of Collective Experience.  Each of our partners brings a passion for helping our clients.  Check us out!

Meet Us

Blankfeld Group – Berkshire Hathaway HomeServices

7475 W. Sahara Avenue Suite 100
Las Vegas, NV 89117

(702) 203-1165
Contact Harvey

NRED# S.0048897   •   sitemap   •   admin   •   ©2021 All Rights Reserved  •  Real Estate Website Design by IDXCentral.com