SalesTraq | Resale Report | October 2017






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October 2017


The Southern Nevada economy continues to expand, and the population base has responded accordingly. An influx of new residents has helped bolster demand in the housing market. With strengthening conditions experienced throughout 2017 expected to continue, similar housing supply-demand dynamics are likely to follow. In October 2017, single family prices jumped 13.4 percent compared to last year, and the number of closings were also up 13.4 percent from 12 months ago. Effective availability fell to 1.7 months (down 40.5 percent). The number of notices of default spiked in October as regulatory and filing fee changes adjusted, but the impacts of foreclosure activity overall appears to be an issue of the past.




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.