www.lasvegasmtg.com Report: Las Vegas Home Facts No One Is Talking About
By John Le Francois
www.lasvegasmtg.com Report: Las Vegas Home Facts No One Is Talking About. What are the facts that are being lost in the world of doom in gloom on the Las Vegas, Nevada housing landscape? It is the fact that 2010 "Existing Home Median Prices" are at the same level as the 1996 "Existing Median Home Price".
In 1996 the gap between "New Home Median Prices" and "Existing Home Prices" was only $7,000.00. In 2003 the gap between "New Home Median Prices" and "Existing Home Prices" increased to $37,000.00 and in 2006 at the peak of home sales in Las Vegas, Nevada the gap was $43,000.00.
In 2010 the "New Home Median Prices" are at the same level they were in 2003, but the gap in 2010 between "New Home Median Prices" and "Existing Home Prices" increased to $88,000.00.
What does this all mean? Are New Home Median Prices to high, or is the Existing Home Median Prices to Low?
It is my opinion that Existing Median Home Prices are to low and the gap will return back closer to the 2006 level.
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John Le Francois
Senior Loan Officer
All Western Mortgage Inc.
8345 W. Sunset Rd.
Suite 200 Las Vegas, NV, 89113 US |
Work: 702-947-0648
Mobile: 702-271-2659
Fax: 702-541-9901
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