Institutional investors who purchase at least 10 homes annually bought 1.9 percent of homes sold in Las Vegas in the first half of the year, down 8.6 percent from the year prior. Nationally, investors made home purchases at approximately the same percentage for the first half of 2015.
According to the Greater Las Vegas Association of Realtors, about 28 percent of homes sold in June in Southern Nevada were purchased in cash, also down from 35 percent the year before and far below the February 2013 peak of 60 percent.
Check out the vegasinc article to read more on the story: http://vegasinc.com/business/real-estate/2015/jul/22/home-purchases-investors-las-vegas-par-national/
Shawn & Kyle Cunningham
Cunningham Group at RE/MAX Advantage(702) 823-0855 Shawn
(702) 823-0840 Kyle
Photo: STEVE MARCUS