According to the
Greater Las Vegas Association of Realtors, 70 percent of current used-home sales in Southern Nevada are traditional deals between buyers and sells. This number has jumped up 51 percent from just a year ago. Bank-owned homes make up less than 10 percent of sales today, a very different scenario from when they comprised almost half of all sales two years ago. GLVAR also claims that short sales comprised almost half of all transactions a little more than a year ago, but now make up a mere 21 percent of sales.
The improved market we see today is reflected in this shift of traditional deals dominating over short sales and foreclosures. Although investors are still buying and selling many properties here, the economy's continued recovery is helping Southern Nevada reach a more balanced housing market.
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Source: VEGASINC.com
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