Sunday, March 15, 2009

Las Vegas Housing Price Update

Some of you may have missed this post last week, but recent data indicates 58% of Las Vegas homeowners with a mortgage are now upside down - Link

Additionally, the "official" Clark county unemployment rate is now 10% and growing (Link). This bleak Las Vegas employment trend will certainly cause the housing cancer to metastasize - increasing foreclosures and causing prices to fall further.

Housing charts below speak much louder than words

Note: Click image for sharper/larger view







For additional LV historical price data try housing tracker.net

Or select a different major US city here

Additionally, Zillow has housing charts for most major cities and they can be found here

2 Comments:

At 3/15/2009 10:31 AM, Anonymous Regular Reader said...

Randy, Here is the link for the S&P Case-Shiller Index. You can see where Vegas is as of December 2008 and then trace back to see that housing prices are now at August 2003 levels. A new report comes out every month around Tuesday of the last week. You can also add your own moving average (I use a 12 month moving average) to see the decline. When and if prices move back above the MA, then it may be time to buy.
http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_csmahp/2,3,4,0,0,0,0,0,0,0,0,0,0,0,0,0.html

 
At 3/15/2009 11:34 AM, Blogger Randy said...

Thanks regular reader - great link

For others who may be interested, here it is in hyperlink form:


S&P Case Shiller

 

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