How Goes Las Vegas Real Estate - Part 2
[FONT="Comic Sans MS"]This is a redo of a prior chart. I was simply going to update the earlier one but the works got lost. So a new version.
Shown are the median and average prices since 2000. A CPI line is provided to show the impact of inflation. [/FONT]
[IMG]http://www.donohueteam.com/Realtor/REO%20Charts/SFRPrice_Base%20Sheet%20(june%2009)_21700_image001.gif[/IMG]
[IMG]http://www.donohueteam.com/Realtor/REO%20Charts/Condos_Base%20Sheet%20(june%2009)_15945_image001.gif[/IMG]
The Message?
Prices are at levels seen last in 2000 and would be well below that if adjusted for inflation.
[B]And Volume is Out of Sight[/B]
Here is a second chart showing the volume of single family sales since 2000.
[IMG]http://www.donohueteam.com/Realtor/REO%20Charts/SFR%20SalesVolumee_Base%20Sheet%20(june%2009)_8874_image001.gif[/IMG]
[FONT="Comic Sans MS"][B]Message[/B]
SFR sales volumes are at record high levels. It does not appear to be a situation that would lead to further price erosion. And 60% are owner occupants (based on first half of June numbers).
So unemployment is very high. The economy still seems to be dropping. And we are selliing everything in sight in Las Vegas...go figure. [/FONT]
Shown are the median and average prices since 2000. A CPI line is provided to show the impact of inflation. [/FONT]
[IMG]http://www.donohueteam.com/Realtor/REO%20Charts/SFRPrice_Base%20Sheet%20(june%2009)_21700_image001.gif[/IMG]
[IMG]http://www.donohueteam.com/Realtor/REO%20Charts/Condos_Base%20Sheet%20(june%2009)_15945_image001.gif[/IMG]
The Message?
Prices are at levels seen last in 2000 and would be well below that if adjusted for inflation.
[B]And Volume is Out of Sight[/B]
Here is a second chart showing the volume of single family sales since 2000.
[IMG]http://www.donohueteam.com/Realtor/REO%20Charts/SFR%20SalesVolumee_Base%20Sheet%20(june%2009)_8874_image001.gif[/IMG]
[FONT="Comic Sans MS"][B]Message[/B]
SFR sales volumes are at record high levels. It does not appear to be a situation that would lead to further price erosion. And 60% are owner occupants (based on first half of June numbers).
So unemployment is very high. The economy still seems to be dropping. And we are selliing everything in sight in Las Vegas...go figure. [/FONT]
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