2006 real estate closings represent the third highest volume of homes sold on record. A few key indicators used to forecast the direction of our local market include, number of new business opportunities and major project developments, as well as changes in new home building permits and interest sensitivity.
We expect interest rates to remain steady for the first six months of the year. The World Market Center, along with the Lou Ruvo Alzheimer’s Center represents only a few examples of the diversity of businesses coming into the Las Vegas market place.
A noticeable decrease in new home building permits, down 30.3% from last year, appears to signal a slow down in production from new home builders. This decline represents an effort by new home builders in reducing their new home inventories presently available. According to Larry Murphy, Salestraq “Sometime in the second quarter, the lack of supply in the new home market should bode well for the resale market.”
WHAT THE DATA MEANS TO YOU
Buyers:
• Favorable rates with little changes expected
• Housing inventories (New and Resale) provide considerable selection
• Opportunities available ~ High-Rise & Master Planned Communities
• Ability to negotiate favorable price & terms
Sellers
• Price homes competitively for maximum exposure
• Trade-up opportunities exist under current conditions
• Differentiation is essential
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment