In the latest issue of our Las Vegas Housing Market Letter, distributed to subscribers and posted for purchase online last week, HBR President Dennis Smith touches on the current numbers for the New and Resale Home segments, as well as commenting on current events and issues facing the local and national markets.
Dennis begins by discussing the recent discrepancies between new home closings and builder permits and the reasons for this as looking at the weekly Net Sales per Subdivision figures from our Weekly Traffic & Sales Watch report. Moving to the Resales segment, we look at sales and pricing trends including the threat of rising interest rates and the drastic decrease in cash transactions. We also touch on the continued lack of "good" listings and some reasons why national headlines regarding the housing market don't necessarily apply to us here in the Las Vegas area (including a pretty staggering figure from the LV Valley Water District).
This month's letter concludes by touching on Fannie Mae's changing of their conventional loan requirements for those with a previous short sale and a very interesting and insightful take from friend and fellow analyst Alex Barron of the Housing Research Center.
The Las Vegas Housing Market Letter has been the go-to monthly source of information on the Las Vegas market for over 26 years and can be delivered to your Inbox each month by subscribing and the current issue is always available for direct download.