5 Signs of a Las Vegas Housing Market Pickup

There are indicators to watch for that suggest a market pickup. Las Vegas Realtors watch for these things, as outlined in Realtor Magazine:
  1. New Jobs vs. New Housing - Historically, one new hom owner is created for every two new jobs. If there are more jobs being created and builders are not building as fast the supply/demand curve will adjust in response.
  2. Fewer Builder Concessions - As builders become more confident they will give less to entice a buyer.
  3. Months' Supply - Look at how many month's supply your market has. If that threshold is reached then the market has picked up.
  4. Visitors per Listing - By tracking MLS lockbox stats one can tell if buyers are more serious if there are more visits for longer periods.
  5. Rising Apartment Rents - When rents get too high buyers would prefer to own.

If you are interested in the Las Vegas market you'll want to contact a professional to help you understand the current market.