Slow housing market has some bright spots
Clark County’s residential real estate market made slight improvements in February, but activity is still dragging, according to Windermere Associate Broker Mike Lamb’s March market report.
New sales activity was up for the second month in a row with 392 new pending sales – up 10.3 percent from January, but down 15.7 percent from a year ago and down 38.4 percent from February 2007.
Closing activity remains weak, but there were 225 new closed sales, up 10.3 percent from January but down 23.5 percent from a year ago and down 49.3 percent from February 2007. There were 462 homes sold to date, down 22.1 percent from a year ago and down 51.9 percent from February 2007.
An interesting note, however, is that the average sale price rose 4.7 percent from January to $245,746 – a 14.5 percent increase from a year ago, but a 20.6 percent decrease from February 2007.
