Las Vegas Home Statistics From Housing Doom Site

A picture is worth many words and this picture from the Housng Doom Housing Bubble Blog comparing the Las Vegas Real estate market single family home sales from year to year is speaking "bleak" indeed. I would ask the experts: when does this become a buying opportunity?

"Down remains the operative word in Las Vegas as it hits two new records. One is that with only 990 single family homes sold, this is the first time in many years that sales have fallen below the 1000 mark. The 43% drop in sales year-over-year is the largest year-over-year decline since the Las Vegas housing market started it’s decline..."

The following graph shows how the median price of a house in Las Vegas has dropped over 8% just from last year alone:

There is a two year supply ( or inventory ) of unsold homes on the Las Vegas market!

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See an interactive map of all Las Vegas home MLS listings here.

Click here for the total number of MLS listed homes for sale in Las Vegas by price range (graphic).