LV resales increase nicely in December

The latest report from the Las Vegas real estate market gives the reader a warm feeling, at least for now. It was somewhat surprising as the winter months tend to slow down a bit. Regardless, local housing observers and home buyers are doing flips over the encouraging turn of events.

In its December wrap-up GLVAR, or Greater Las Vegas Association of Realtors, reveals that there were 2,498 existing single-family homes sold, amounting to a strong 184% jump from December of 2007. In addition, this beats November's figure of 2,183 by 315 houses closed. Much of the activity was generated by real estate investors who now see good value in Southern Nevada and aren't afraid to make a move. Home buyers, on the other hand, remain somewhat cautious, obviously hoping that prices will fall even further before signing anything. After all, it's their own hard-earned money they would have to use to pay off the mortgage.