Las Vegas Home Sales Chart shows the impact of the Homebuyers Tax Credit
Posted by Paul Francis on Wednesday, August 18th, 2010 at 11:13am.Las Vegas Home Sales Chart
Equity Title of Nevada just shot over their "July" Hotspot report to me with the number of Single Family home sales by Las Vegas zip code, the average sales price, the Number of Notices of Default Filed and the number of the Notices of Trustee Sales filed per zip code for Las Vegas Home Sales in July of 2010.
These are always pretty interesting and if you want the full report, just go to my Contact Form, put "Request Equity Title July Sales Report" in the Subject Line and I'll shoot it over to you so you can see what is going on in your Las Vegas zip code. (Or others.)
From the Report is the Following Chart that I found interesting:
As you can see, the Homebuyers tax credit obviously had an impact on Las Vegas real estate sales. The final day to get a home under contract was on April 30th, 2010 and it must close by 09/30/10 to qualify. Pretty self explanatory on what took place here as buyers rushed to meet the deadline and were buying whatever was available. March and April Las Vegas home inventory was pretty slim so buyers did not have too much negotiating room (if any) when it came to purchasing.
Unfortunately, banks should have released more of that shadow inventory they are sitting on to get those vacant Las Vegas homes off of the books to move forward. If they would have, I think the number of Las Vegas home sales would have been even higher for May/June.
Paul Francis, REALTOR
Las Vegas Real Estate
702.592.3058
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