Subscribers to our well known Las Vegas Housing Market Letter have just received Volume 326 in their inboxes. This months letter contains New Home and Resale closings, permits, and median price numbers for November 2014.
HBR President Dennis Smith touches on a variety of topics including the sharp decline in new home permits in Clark County, which he points to as a key point in the argument against the bullish outlooks for 2015. Dennis also mentions a possible shift occurring in the resales segment as supply is rising with closing numbers still "trending down each month."
Next, Dennis touches on the huge spending bill passed by congress and the extension of the IRS Debt Forgiveness Act allowing for the possibility of more "boomerang buyers" to enter the market. A significant section of this month's letter focuses on the Lending industry and its outlook for the coming months and some changes and alternative options that may come up to combat the strict qualifying standards currently in place.
After a breakdown of Builder related land transactions, the letter wraps up with a commentary on interest rates and other figures relating to national housing projections for 2015.
The Las Vegas Housing Market Letter has been around for over 25 years now for a reason. ANYONE associated with the Las Vegas Housing industry will certainly find the data and comments found within each month as insightful and helpful for their day-to-day operations.