I agree with joncmac. Inventory is holding steady and prices are as well. Recently the banks repos, which are pulling the market down, have begun to hold on to foreclosures and only list them as other foreclosures come off the market. That way they don't shoot themselves in the foot by driving the price down further. If inventory is being controlled then prices will hold relatively steady. Also with many homes at below $70 per sq. foot ( well below replacement cost ) see: http://www.VegasRepos.com for details, many buyers a realizing this is a good time to buy and hold for the long term as indicated by rising sales. Combine that with new housing starts at an all time low and tens of thousands of new jobs coming to Las Vegas, people are realizing this temporary crisis will not last forever and will probably turn on a dime just as in previous cycles.

This is the silver lining to the cloud. Prices below $200,000 and well under $100 are not realistic. These prices are here only because of the glut of foreclosures currently here. When the foreclosues stop prices will rise. Many of these homes today are being sold for well under replacement cost. See:

http://www.VegasRepos.com

for examples.

Smart buyers realize this and are jumping in again in big numbers.

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They will certianly have plenty of homes to choose from. And at great prices too. Tons at:

http://www.VegasRepos.com

But all in all it's nice to see the feds doing something to help make a dent in Nevada's foreclosure crisis. This certainly will help not only those who live in these homes but the neighborhoods where they will live as well.

This piece is pretty much on the money. And it's the latest article in a string of good news for the Vegas housing market. Home closings are up in the past 6 out of 7 months. The reason? Price. Homes are affordable to many people who were previously priced out of the market and people see the great value. Some homes are selling for less than $70 per square foot. ( Well below replacement cost ) for examples see:

http://www.VegasRepos.com

With some homes costing less to own than rent both owner occupants and investors are jumping into the market while the foreclosure crisis is still here.