Las Vegas New Home Builders – Demand for Residential Lots Increases
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Demand for Residential Lots Increases
Las Vegas residential real estate market supply of homes has tightened since October 2011, when Nevada’s Robo-Signing Law went into effect.
This has increased demand for the Las Vegas new home builders and there purchase of available lots in Clark County, Nevada.
The Las Vegas Review Journal reported “Builder scramble to locate home lots” in an article written today on Tuesday the 14th of September.
Las Vegas New Home Builders
It was reported that 13,500 lots are currently available in Las Vegas and Henderson Nevada.
Compared to 19,000 lots at the beginning of the year for Las Vegas New Home Builders.
This has shown the demand is there for Las Vegas New Home Builders homes even when the supply of foreclosures has dropped in supply.
Las Vegas MLS has seen an increase in single family home listings since a low in late June of 2012 of 3,718 homes for sale to 4,026 single family homes currently on the market.
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We should continue to see this upward swing of available Las Vegas single family homes to increase in coming months.
Could this put a damper on the Las Vegas new home builders market?
With 70% of the Las Vegas home market still underwater we will continue to see foreclosures and short sales for years to come.
As banks continue to adapt to current laws and Legislation we will see an increase of foreclosures.
We will never see the amount of Las Vegas foreclosures on the market as we had over the last few years. There will be a balance between foreclosures, short sales, resales and new homes.
Since home loan modification is another way of deferring the inevitable for a Las Vegas home owner.
Yes New Builders in Las Vegas will continue to buy lots but will also be cautious in there return to the Las Vegas real estate market.
Las Vegas New Home Builders
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