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December Real Estate Update
By Stephen Roberts | January 26, 2010
The month of December was a good one for the real estate market, and will hopefully be a sign of things to come in the near future here in the Henderson and Las Vegas Valley. December ranked in as the second highest month in the year in the sales category. The sale of new homes is also on the rise. Foreclosures were unexpectedly low in the month of December, inventory continued to decline, and housing inventory continued to decline.
The inventory of foreclosed houses has been an unexpected surprise in last quarter of 2009. More foreclosures were sold in December than put on the market, which is a good sign for price stability. The median price for a new home jumped 5.8 percent from November to December. Resale prices remained low, only dropping a few thousand. A little over half of existing home closings in the month of December were bank-owned homes with a median closing price of roughly $116,000.
All this information could be a great sign for the housing market here in the Henderson and Las Vegas Valley. Hopefully 2010 will be a successful year for the real estate market, it looks like it is getting a good start.
For all your Real Estate needs contact Steve Roberts at 702-739-4392 or visit my website at www.hendersonrealestateonline.com!
Topics: Henderson Nevada Homes, Holiday Season, Las Vegas Nevada Real Estate, Southern Nevada Monthly Economic Update, Summerlin Nevada Real Estate, foreclosures | No Comments »