Slight dip in median prices.
According to the latest data released by Greater Las Vegas Association of Realtors median prices of single-family home sin Las Vegas Valley slipped slightly to $308,000. This is about one percent less than the median price for September which closed at a record high of $310,000.More single-family homes and condos are on sale this month. There's around 15-16 percent increase in inventory levels in Las Vegas and there is no big reduction in the number of housing sales. Overall the trend seems to be slight lowering of prices and increase in foreclosures as interest rates creep up. But as yet there are no concrete trends right now to support the view. This view can be confirmed only in the days to come.
According to real estate analysts and experts the real estate market is in transition and it is not yet clear if it is turning into buyer's market though many of indicators point in that direction. The coming months are crucial in understanding which way the market is headed.
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