Number of houses for sale has jumped from 2004
By JENNIFER ROBISON
REVIEW-JOURNAL

For home buyers, sellers and real estate agents who remember 2004’s tight housing market, 2006 is offering a distinctly different feel thanks to skyrocketing inventory.

Statistics from SalesTraq, a local real estate research firm, showed 2,992 resale homes listed in Las Vegas in April 2004. That number jumped 250 percent to 10,493 resales in April 2005 as buyers looked to cash in on big appreciation increases. Resale inventory rose again 63 percent to 17,161 homes in April 2006, the most recent month with available data.

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Aug. 24, 2006
Copyright © Las Vegas Review-Journal

Closings of new homes at lowest level since April 2003

By HUBBLE SMITH
REVIEW-JOURNAL
Las Vegas’ housing market picked the hottest month of the year to show its clearest signs of cooling.

New home sales in July dropped 41 percent from the same month a year ago and existing home sales fell 35.1 percent as the market continues its downward slide after two years of record-breaking sales and price appreciation.

The 1,808 new home closings were the fewest since April 2003 and slightly more than half of the 3,474 closings in the previous month, local research firm SalesTraq reported Wednesday.

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