New home sales are up 11% nationally compared to last month sales. This hasn’t been seen in 9 years and is also the 3rd consecutive month of growth.

What does this mean for Las Vegas home buyers considering purchasing a short sale in Las Vegas, a foreclosure in Clark County or a new home. Builders are trying to compete with all of the foreclosures and short sales that are currently on the Las Vegas real estate market so they have had to reduce their prices. The median price of homes in Las Vegas have dropped from the high of 315,000 to the new median price which is under 150,00. This good news because it gives another choice for frustrated homebuyers trying to get a home in this busy Las Vegas real estate market.

If you build a new home, it will probably take about 3 to 4 months from dirt.  That’s about how long it takes to get a short sale in Las Vegas approved!  A favorite line I once heard from a new home sales agent was, ” No one has ever cut there toe nails here!”  That is the nice thing about purchasing new. New appliances, carpet paint, that new home smell!

Builders are including such things as stoves, washer and dryers, refrigerators etc. Anyone who has looked through short sale listings as well as valley foreclosures knows 4 out 5 is missing at least one of these items if not all. The other nice thing is it will close, for sure! That can be one of the most frustrating thing when it comes to someone buying a short sale home. It can take 2 to 4 months and there are no sure signs that say yes it’s  close. One of the hardest things is to keep the buyer committed to the sale.

If you are interested in new home sales in Las Vegas, please call us so we can set up a new home search for you.