Where did the FOR SALE Las Vegas Homes Go?

Reposted with permission from Writer/Owner;

Here is an update to the state of the greater Las Vegas market.  We continue to experience an artificial shortage of available homes for purchase.   Our own market tracking here at RE/MAX Advantage reports as of 10/20 there were only 8076 single family homes on the market.  46% of those were short sales, leaving a little over half of the inventory to be REO (bank owned) 18% and the remaining owner occupied or corporate owned.   This translates to about 4000 homes available for purchase with an option to close in 30 to 45 days for buyers in the market place.  With 3127 detached homes closed in the last 30 days, and just over 4000 homes available for traditional closing timelines, the market is ULTRA tight for those…click here to read the rest of this important post