In spite of many predictions that the housing boom is over, the real estate agents in Las Vegas feel that now there are more houses for sale than ever before. At present there are more than 16,000 homes for sale that is 6,000 more than the year before.

Though there are many houses for sale but due to high prices these are not affordable by many. The average price of the single-family home is $310,000. Some feel that the increase in number of houses for sale is due to the stagnation created because of high price.

The soaring price is unaffordable to the investors and buyers. So the homebuyers are turning towards the condos, as they are more affordable. The growth of condo sales has increased by 40% compared to last year. Unless the prices of the homes are reduced the swing towards condos will not reduce.

This entry was posted on Wednesday, October 19th, 2005 at 7:44 am and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.