Bubble Bursting Stats For Las Vegas Real Estate Market
In a monthly report on the condition of the Las Vegas housing market reports were made that there were more than 3,000 resale transactions for the month of February.
3,000 homes is a lot of homes. However, some critics of the Las Vegas market say that the market is slowing and on a downward spiral. These are the same critics who say Las Vegas real estate is experiencing a bubble.
This being said, the median price of resold homes did decline in the month of February with a month-over-month decline of $3,000.
But when the median price of homes is compared to the same month just last year the report released by Home Builders Research Inc. shows that there is a $22,000 increase for 2006.
Is the local real estate market really in trouble or are critic’s just blowing bubbles?
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