Home Sales Inventory High
Builder Online is reporting that the inventory of homes for sale in Las Vegas reached an all-time high of 18,467 in April, a 29.3 percent increase from a year ago and nearly double the number from two years ago, the Greater Las Vegas Association of Realtors reported Thursday. Available condominiums and townhomes have increased nearly 50 percent to 3,971, largely a result of the trend in apartment conversions, which accounted for roughly 20 percent of last year’s new home sales. The median price of 2,230 single-family homes sold by Realtors in April was $310,000, down from $314,950 the previous month, but up 5.1 percent from the same month a year ago.
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