This report is for closed sales in October; sales are counted at the close of escrow, so the contracts for these homes were mostly signed in August and September.
The Las Vegas Realtors reported With rising prices and supply not meeting demand, local housing market looking like rest of U.S.; LVR housing statistics for October 2020 “COVID-19 appears to have extended the typical summer buying period by several months,” said 2020 LVR President Tom Blanchard, a longtime local REALTOR®. “The continued demand in our housing market is still not being met and is putting upward pressure on home values. Although we see increased permits by local homebuilders, they are still not meeting the demand that is out there.”1) Overall sales were up 10.9% year-over-year to 3,961 in October 2020 from 3,571 in October 2019. 2) Active inventory (single-family and condos) is down from a year ago, from a total of 9,164 in September 2019 to 5,929 in September 2020. Note: Total inventory was down 34.3% year-over-year. And months of inventory is low. 3) Low level of distressed sales. from http://www.calculatedriskblog.com/2020/11/las-vegas-real-estate-in-october-sales.html
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