Let’s start with a great infographic on underwater homeowners. That includes 61% of Nevada homeowners, by the way.
There’s still some debate about whether housing is really “rebounding,” despite improving prices in much of the country. The markets think it’s here, but some experts think we won’t be there yet until after springtime. For those who like pretty graphs, here’s the Case-Shiller. I have two things to point out. First, despite improvement, that money-green line for Vegas is still below year 2000 levels. Second, thank goodness we aren’t in Detroit.
Last, I have a coupe of local issues. Vegas has one of the most “vacant” housing markets in the country — although I’d love to see how they calculate that. Finally, in News Of The Obvious, prices are rising and inventory is low in Vegas, thank you very much. Remember that GLVAR counts “contingent” properties as “available” even though a contract has been signed.