Check out homes in North Las Vegas for potential deals
Houses for sale in Las Vegas can range in price significantly depending on location and features. Therefore it is important to research key neighborhoods to get the best deal possible.
According to Metrostudy, there were 3,665 home closings in the first quarter of 2012 in the Las Vegas area, which is 21 percent lower than a year earlier. However, there were 858 new home starts during the first quarter of 2012, up 12 percent from 762 from a year prior.
"As 2012 begins, the Las Vegas housing market has stabilized and is beginning to improve," said Greg Gross, director of Metrostudy’s Las Vegas Region. "The last half of 2011 and first quarter of 2012 proved to be busier than 2010, which will help spur better confidence in the market."
Overall, inventory levels remain normal, the annual closing rate is slow and the quarterly pace continues to increase, but North Las Vegas remains largely affordable. When inventory levels decrease, homebuyers can expect to pay more for a property, but today's market may prove to be an exception. Home prices are still decreasing in North Las Vegas, with homes ranging from $60,000 to $200,000 in most neighborhoods.