Las Vegas Homes for Sale

I hear buyers often talk about how they want to wait until home prices drop even further before they make a move to buy.  Las Vegas Home prices are already at levels we haven't seen since early 2004, so I just not sure how much further home prices can drop.  Obviously, the more bank owned properties that enter the market, the higher the probability that the Las Vegas Home prices will keep falling.

According to the Greater Las Vegas Association of Realtors, there are currently more homes on the market than the same time last year, but we have had more sales than the same time last year.  If we continue to see a rise in closings like we have for the past 4 months, the Las Vegas Housing inventory should begin to drop and when that happens, home prices should stabalize.

So when I hear my clients say they want to wait until home prices drop further, I tell them "Don't wait to long, before you know it, prices will begin to level off and then begins the recovery!"