Las Vegas had a 20.7 percent year-over-year gain in home asking prices in February, and inventory is no longer in a free fall, online listing firm Trulia.com reported.
Asking prices rose 7 percent in the 100 largest metro areas tracked by Trulia, and rents rose 3.2 percent, the comapny's February price and rent monitor showed.
The largest year-over-year price gains were in Phoenix (24.9 percent), Las Vegas (20.7 percent) and Oakland, Calif., (19 percent). The largest rent gains were in Houston (14.5 percent), Oakland (7.4 percent) and Miami (7.2 percent). Rents dropped 0.8 percent in Las Vegas.
Although inventory remains tight, it is now falling less sharply than it had been, Trulia chief economist Jed Kolko said. Inventory declined fastest in the six months just after prices bottomed in February 2012. Nationally, inventory is unlikely to rise this year, Kolko said.
Author:Brenkus Buyer Phone: 702-752-0044 Dated: March 10th 2013 Views: 552 About Brenkus: ...
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Rick and Teri Have been top producers for over 30 years in the Southern Nevada and have been ranked in the top 50 agents in the US by the Wall Street Journal out of over 1.3 million agents. They have sold over 7,000 homes in both stable and challenging markets. Their strategies and incredible systems to represent buyers and sellers can not be matched! Sellers enjoy netting top dollar in the least amount of time with their massive marketing and ability to stay ahead of the curve! This Top Producing Team has consistently been in the top 1% of agents Nationally for the last 30 years. They are national speakers and are highly sought after by many who want to get to the next level in their business. They also serve on Professional Standards at the Greater Las Vegas Association of Realtors and are Senior Faculty Instructors. Their list of credentials are endless!
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