If you listen to the Las Vegas pundits, demand is always strong for housing in Las Vegas. Question: If demand is always strong, then why is this the third consecutive February when single family home sales have dropped in the Las Vegas metro area? 1,407 single family homes sold in February. That’s down from 1,787 in 2006, 2,038 in 2005 and 2,431 in 2004. January also exhibited it’s third consecutive drop. From March through December sales declined every month from 2004-2006, the only exception being August and September 2005. Take a look: [Data from GLVAR]
