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More Las Vegas Real Estate Statistics January 2010
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More Las Vegas Real Estate Statistics January 2010

May 23, 2016 08:27 AM

More Las Vegas Real Estate Statistics January 2010: In January 2010, government-insured FHA loans accounted for 51.7% of all Las Vegas Nevada luxury real estate purchase loans, up from December’s 49.8% and last year’s 49.6%. Absentee buyers purchased 43% of all sold Las Vegas area homes in January, also up from December’s 40.3% and last year’s 33.8%. These absentee buyers paid a median price of $101,000 for those Las Vegas homes, down from December’s $109,836 and last year’s $125,000.

Absentee buyers are often real estate investors, but also includes second-home buyers and others who indicates that the property tax bill go to a different address at the time of sale.

Based on public property records analyses, cash-carrying Las Vegas home buyers accounted for 50.4% of January’s sales, indicating a big jump from December’s 45.5% and last year’s 38.8%. These almost-all-cash deals, which are transactions where there was no purchase mortgage indicated at the time the sale was recorded, had a median paid price of $96,000. They might have used alternative financing arrangements or they might have taken out mortgages only after the purchases were done. These all-cash deals are gaining in popularity in Western markets where, because of sharp price drops, sellers favor the certainty and quickness of cash transactions.

Las Vegas home-flipping has become more common, with the flipping rate going up to 5% in January from December’s 3.9% and last year’s 3.2%.

 


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