Las Vegas new single-family house sector draws recovery prediction

Plenty of time and money is spent annually in foreseeing the future in all sorts of areas. From the familiar to the bizarre. As expected, the mortgage and housing markets have seen their fair share of this. Some of these studies are more accurate than others, after they are later independently checked for accuracy. But overall, the results of these novel exercises appear to be off the mark, sometimes way off.

In any case, here is the latest for Las Vegas, Nevada. According to a new real estate market study completed by the Concord Group, Southern Nevada can expect its new single-family home sector to pick up in the first quarter of 2012. 2012? That comes to about three years from now. This national projection relies on analysis of unsold inventory, anticipated shifts in the employment picture and demand, which are rather decent criteria.

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