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Las Vegas Market Watch Report - September 2016

by David Brownell

Happy Halloween!

Five weeks into the NFL Season and America’s Team is 4-1.  How ‘bout them Cowboys?!!!!

September’s real estate numbers offer a few interesting points.

First, since April of this year, inventory had been slowly climbing.  That changed in September.  Inventory is down.  We are back at April levels.  Interesting for this time of the year when inventory usually continues to inch up.

Second, also on the topic of inventory, year over year, it is down 11%, from 9,578 (September 2015) units to 8,572 (September 2016).  Related to that is the fact that closings are up year over year….also by 11%, from 3,112 (September 2015) to 3,447 (September 2016).

Finally, regarding terms of sale, cash closings are on the brink of falling into third place.  Conventional sales make up 39% of the closed units and FHA and Cash were each 25% of the closed units.

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