Las Vegas Home Sales Increase by 78%

“Las Vegas is emerging as a national leader in the housing market recovery with 13 consecutive months of increasing home sales”…this according to a May 9th article in the Las Vegas Review Journal newspaper by reporter Hubble Smith. In fact, the Greater Las Vegas Association of Realtors reports that April 2009 sales figures have clocked-in at 78% higher vs April 2008 numbers and that buyer activity has more than doubled for the first four months of 2009! What is causing this huge increase in buyer activity? Price, price and price. GLVAR also reports that bank foreclosures have driven down median prices by a whopping 40% over the same 12 month time frame. Las Vegas homes have now become so affordable that in most cases it’s cheaper to buy than to rent!

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