Las Vegas real estate market summary
There were a total of 3,015 Single Family, Condos and Townhouses closed in the month of February in the Las Vegas home market. This represents an increase of 360 more closed transactions than in January. Cash purchases are still dominating Las Vegas and foreclosures have slowed to a snails pace. 1,185 transactions were closed with financing including nearly 500 utiliing VA & FHA loans. This offers some hope the the buyers that need financing in the Las Vegas Market.
Las Vegas real estate market transaction breakdown for February
Resale 1565 – 51.9% Short Sales 1160 – 38% REO 290 – 9.6%
Comparing January 2013 #’s/ Resale was 1348 – 49.2% ~ Short Sales was 979 – 36.9% REO was 328 – 12.4%
1785 Cash purchases (This is up by 282 from January)
686 Conventional Financing (This is up by 31 from January)
404 FHA Financing (This is up by 18 from January)
95 VA Financing (This dropped by 12 from January)
Las Vegas Housing Market News for February 2013.