It’s time for  Friday Figures! All information from the GLVAR MLS system. It’s critical information you and our Realtor need to know if you are touring, making offers, or listing property this weekend in the Las Vegas Valley!

Summary: We have officially crept back over 11,000 available units, but don’t panic. Instead, remember that we began December of 2007 with over 25,000 available units! There were increases in both distressed and non-distressed properties, which I consider a good sign. What does bother me is the jump in houses under $50,000. This price level in most areas of town is essentially being sold for the value of the land, with the house itself considered a “tear-down” (cash only regardless of what the listing says!). Pending and contingent listings are still strong, but down slightly. This drop is expected, since we had over 800 properties close this week. Next week should have light closings due to the Thanksgiving holiday.

Other Information: Last quarter, 70.1% of homes sold were “affordable,” at least, CNN adds, for those who were employed. As for housing prices going forward, Calculated Risk has compiled a few choice opinions. I am certainly seeing an increase in inventory, and some signs of downward price pressure. As I’ve said before, long term housing recovery depends on people having jobs.

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