For the first time in many weeks new listings for Las Vegas single family, condos, and townhomes actually decreased. The overall trend in the past month or so is flattening out giving some hope to home sellers who are becoming anxious due to the record number of properties for sale.
While the outlook may be positive for some not all are as optimistic. The Summer selling season is over and traditionally as the valley enters the fall and winter months there are fewer residents ready to up and move out of the valley. Many put children in school and many don't want to hassel with the cooler weather. The market is still saturated with homes for sale and buyers continue to swoop in and grab great deals.
New home builders continue to give all sorts of incentives to compete with the great number of resale homes. Las Vegas buyer's agents are also directing buyers and investors to new developments because of the incentives agents are receiving.
While recent statistics show an improving trend for sellers it's the buyers who are still driving the market.