What's Causing this Surge of Activity in Las Vegas?

An article containing the above graph from RealtyTraq.com is all over the internet.

I found it reposted on The Wall Street Jornal Website. 

Investors around the Nation see statistics like this and want to get their money in play fast. 

Over the past month, we have taken 4 new listings. 

We marketed them and kept them active for 1 week to allow Buyers time to submit offers. 

We received on average  10 offers per listing.

Over half of those offers were Non-Owner Occupant All CASH offers Over List Price.

All this activity is Pushing Home Prices Upward at a fast pace.

Maybe a little too fast?!

Appreciation in 2012

Recently, the Las Vegas Review Journal and SalesTraq put out a Report showing the percentage of change in Home Values for all of Las Vegas Area Zip Codes.

This is a good sign that our local Real Estate Market is heading in the right direction.

Many home owners who wanted to sell but couldn't because they were upside down on their loan,

now have positive equity.

Las Vegas Market Activity - April 2013

We are once again on an Upward Trend.

Last Years Price Bubble was a little too much, too fast, and it Popped.

This years upward projection seems to be at a more sustainable pace.

Every Realtor I know is both Happy about the Upward Trend and Buyer Confidence,

and Frustrated there is not enough Inventory.

If you have been considering Selling, Now might be the right time.

If in the past you have been upside down on your home,

you may now have positive equity.

CoreLogic, a Leader in National Real Estate Statistics put this out this week.

The Interesting Stat for Las Vegas is that NV leads the Nation in Appreciation.