links for 2007-06-08
By lalitd
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Attention bargain hunters: there are plenty of homes available. Southern Nevada saw only 1,568 home sales in May, a 38.7 percent decrease from a year ago, reports the Greater Las Vegas Association of Realtors. And there was a record 23,042 units for sale
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Inventory, inventory everywhere and not a buyer in sight. That seems to be the message in Las Vegas and across the nation. The latest numbers from GLVAR show the number of homes on the market is now well above 20,000 and prices are softening.
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Glen, Smith & Glen Development announced Monday that it had acquired 56 acres of land along the I-215 Beltway for $65 million, or $1,160,714 per acre. Both parcels are zoned for mixed-use.
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April’s housing data for Las Vegas, as expected, was a continuation of the housing bottom we have been scraping along for nearly six months.
This entry was posted on June 7, 2007 at 8:26 pm and is filed under Las Vegas Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.
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