Monday Statistic Of The Week

Inventory in Las Vegas over the last 20 days is falling at an annualized rate of 55%.

Data:

Date Inventory in Las Vegas Annualized Rate
4/23/2008 23220
5/12/2008 22551 -55.3%

Inventory data here is an RES query using SFR, CON, TWN, and MAN, for EA and ER status, in all areas covered by the GLVAR MLS.

If this rate of reduction was maintained, then one year from now, there would be only 10,150 units in inventory, taking us well back to 2004 levels. I don’t think it will get down that low, because it’s a bigger city now, with a bigger stock of housing, but it’s still impressive reduction, any way you look at it.

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