Supply Catching Up?

July 5, 2004 Posted In Homes Update Market Conditions

Yes, supply is starting to catch up with demand in the Las Vegas real estate market.

The short term benefits are that prices are stabilizing. However, Builders and Developers are continuing to reduce inventory.

This is evidenced by the reduced number of building permits that were issued in June and is not uncommon in the months leading up to a national election.

Reducing inventory is also a common practice by Developers to maintain prices.

With businesses continuing to move into the Valley and the population steadily increasing this could possibly create yet another housing shortage and drive prices back up again.

-Mack