Signs of hope are seen in two of the most distressed U.S. housing markets. Las Vegas, where...


Signs of hope are seen in two of the most distressed U.S. housing markets. Las Vegas, where prices have plunged 62% from the peak, reports sold gains in home sales and prices, and inventory is down 46% Y/Y. The SoCal market posted the highest number of February home sales in five years.

Comments (3)
  • montanamark
    , contributor
    Comments (1455) | Send Message
     
    more than half the "sales" are either foreclosures or short sales;
    credit is tight and many buyers are forced to pay cash; if rates tick up it might slow things further; there is still a large inventory of foreclosures in the pipe
    14 Mar 2012, 02:22 PM Reply Like
  • TWagen
    , contributor
    Comments (162) | Send Message
     
    I agree (Most are Foreclosure....).

     

    Since it is going so well maybe its time to get out of the bankers way and let them start reeling out the inventory. Never a better time for people to take advantage of those low rates :). Oh yea, except most of the deals have to be for cash buyers only and not too many of them. In addition, the last thing that an aging population needs are more properties, and that taxes and such on properties are rising, and that interest rates have no where to go but up, and that....

     

    These numbers are from a catastrophic low and are no sign of anything other than maybe a dead cat bounce. Who are they the NAR ! Signs of hope indeed !
    14 Mar 2012, 02:39 PM Reply Like
  • rag2rag
    , contributor
    Comments (47) | Send Message
     
    clutching at straws after drowning in a sea of bad loans
    15 Mar 2012, 12:52 AM Reply Like
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