The Las Vegas over-heated investment housing market is equalising with the out of towners who invested in the last couple of years selling their investment properties more and more Las Vegas residents are moving into owner occupied homes.

The homes were selling at 10 percent and 20 percent above homes of comparable value about 2 years ago are now priced the same as the homes sold in the past few months.

A recent study by the Los Angeles based University of California predicts that the nation’s housing market is all set for a sustained slow down which could result in over 800,000 jobs being lost. But whether this prediction comes true remains to be seen. Meanwhile the Las Vegas real estate market shows little sign of slowing down. Single family homes and condos have actually sold for prices higher than the prices for the previous months. Though the increase levels of inventory compared to sales indicate the market is slowly turning into a buyer’s market.

This entry was posted on Wednesday, December 14th, 2005 at 5:15 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.