SalesTraq | Resale Report | July 2017

 

 

 

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July 2017

Through July 2017, the Southern Nevada resale housing market continued to trend in a positive direction. Prices edged up further (+10.2 percent), closing volumes jumped from the prior year (+10.8 percent) and effective availability remained limited (1.8 months). The overall condominium/townhouse segment posted similar results with closings up 7.5 percent, median prices rising 20.0 percent and inventory reaching 1.1 months. Importantly, foreclosure activity remains at a post-recession low with the number of notices of default, notices of trustee sale and trustee deeds falling substantially during the past couple of months. Improving economic and housing fundamentals are contributing to reduced foreclosure activity.

 

 

 

  

Note: The Residential Resale & Foreclosure Report is a monthly publication of SalesTraq that is provided on a complimentary basis to our clients and colleagues.  This report is not a replacement for our monthly FastFacts newsletter that provides a more comprehensive review of residential market activity, including new home closings, permitting volumes, detailed resale sales data by transaction type, non-MLS sales transactions and other industry data and analysis.

Resale market information in this publication is sourced to the Greater Las Vegas Association of Realtors® based on transactions reported in the Multiple Listing Service (MLS). These exclude transactions that do not involve Realtors® or others not reported in the MLS.  Foreclosure information is sourced to Clark County Recorder's Office. Information contained herein has been obtained from various sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

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