S&P / Case-Shiller Home Price Indices - First Quarter 2013

This can be a confusing graph...

Keep in mind there is a 10-city line and a 20-city line.

Las Vegas is part of the 20-city composite.

Also, the graph is charting the percentage of change over the previous year.

You can see from 2005 to 2009 we had a huge swing from

15% in growth to a 17% decline.

For many home owners, depending on when they purchased,

that was over 50% of their homes value.

The good news is that many people are getting some of that equity back.

Las Vegas Homes Price Spike... #1 in Nation

Prices are racing upward again.

Does that mean we are blowing up another bubble?

We shall see. . .

You can see from previous Blog Posts and the graph below,

we are still way below what "True Values" should be.

Las Vegas Homes Undervalued ? Maybe it's Time to Buy . . .

This is what Investors are seeing.

We are the #1 most Undervalued City in the Nation.

( according to Trulia )

Second only to Detroit, but who wants to live in Detroit?

Last Month, 59% of All Closed Transaction were CASH Buyers.

Las Vegas Home Prices Surging ...

Front page article in the LVRJ.

Median prices up 30.6 % ...

Median is very different than Average or Appreciation.

Median is the middle.  Average is the Total of all Sales divided by the Number of Sales.

So the middle is going up meaning people starting to buy more expensive Homes.

The article later goes on to say that Las Vegas Valley Homes

have Appreciated over 20% in the past year.

Still a very good sign.

A couple of other interesting points the article discusses are;

- This surge in Sales is also affecting local Repairman and Home Decorating and Home Fixture Sales.

- They claim that there is still a years worth of Inventory sitting vacant out there.

- Currently, 59% of All Sales are Cash transactions, which are usually Investors.

- The Builder are out of developable land,

and prices need to go up another 20% before building makes sense.