More homes in MLS inventory

The Multiple Listing Service in Las Vegas is a popular place nowadays. More and more sellers are calling it up to put their houses on the list for sale. The inventory climbed to a record level in July, reaching 24,087 single-family houses. In percentage terms, that's up 1.9% from June and 18.8% from a year ago.

The one brighter side over the last several months has been the price, but even it saw a drop in July, by 4.8% to $295,000. Perhaps that is what's needed to move the inventory, to burn it up to a level that brings more balance to the overall marketplace.

When pricing your home for sale, the experts have sensible words of wisdom for you. It can be valued at the one-year price, the six-month price or the one-week price. You get the idea? The price is of paramount importance in a soft market like today's. Over half of all single-family houses sold within 60 days and 47% of all townhouses and condos did the same. In other words, there is still decent activity out in the field.