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Las Vegas Market
Real Estate is a very dynamic thing. It is constantly changing and going through cycles. In 2004 we experienced a sellers market where home values increased as much as 52% in some areas and sold within a few days. In the current Market property values are remaining steady for the most part, although we have seen a slight adjustment of 3-4% in some neighborhoods. Due to the overwhelming number of houses for sale on the market, properties are now taking three to six months to sell. Supply is simply exceeding demand. We are seeing the number of houses on the market decrease slightly and expect properties to appreciate rapidly once supply and demand evens out.
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