More Las Vegas Real Estate Statistics January 2010
May 23, 2016 08:27 AM
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%.