stable for most of 2009

[vegas40]

The market was quite stable for most of 2009 both from a pricing and supply standpoint. The graph below shows single family residence days of supply by price range for the last 12 months. As you can see, the market ,homes from 700K has been quite stable since about mid April.

During the last month-and-a-half or so of 2009, Vegas was seeing much less competition. This translated into more accepted offers much closer to current market value which resulted in more buyers getting the home they wanted at a more reasonable price.