Nevada A Winner In Absorption Rates

Nevada A Winner In Absorption Rates

As you can see by the chart, Oregon and Minnesota were the big winners. But Nevada did pretty darn well.

What is absorption rate anyway? It is a good technical barometer of your real estate marketplace.

There are three pieces of information you need to find absorption rate:

  1. The specific time frame

  2. The number of sold homes during that time frame

  3. The number of active homes right now

For example, if there are 100 homes listed for sale in a Las Vegas and 10 sold over the last month, the absorption rate is 10/100=10%.

According to CoreLogic, which did the national calculations, Nevada's absorption rate in December 2014 was 24.1 percent. Last December it jumped to 31.5 percent, a 30.9 percent increase. Proof our market is picking up. (But you already knew that!)




Absorption rate change


What does this mean for you? Sellers, now is a good time to sell your house because people are buying them. 

Buyers: As the absorption rate goes up, it becomes harder to find a house because you are competing with more buyers. Be sure you are pre-approved, not pre-qualified. And make your first offer reasonable if you really want the house. Someone else out there will understand it's value and beat you to the punch. 


((hugs)) BETH Ellyn

The Las Vegas Real Estate Concierge

Managing State Broker, Nevada

702.758.4318  Talk. Text. SMS. Video chat

beth.rosenthal@exprealty.com  Google Hangouts

@yale1974  Twitter

Las Vegas Propportunities  Facebook business page

Beth Ellyn Cookin' up solutions



BA: Yale

MS: Columbia

MBA: L'ecole du Hard Knocks

Licensed in Nevada since 1996: I have previous

When competence AND creativity matter!

 


Beth Ellyn Rosenthal Headshot
Author:
Phone: 702-324-6911
Dated: March 9th 2016
Views: 105
About Beth Ellyn: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Why Mortgage Interest Rates Are Spiking And What It Means To YOU - This past week we had something not
Vegas Is Americas Most Popular Thanksgiving Location - Las Vegas is America's No. 1 vacatio
A Math Competition In Vegas REALLY - Las Vegas is known for a quirky, kin
Save That I Voted Sticker - Here's a great reward for this horri

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

eXp Realty Las Vegas
6671 Las Vegas Boulevard South Suite D-210
Las Vegas, NV
702-830-7634