House Prices in America, a new report from IHS Global Insight and Ohio Bank holder National City Corp., shows that homes in Las Vegas are undervalued and show that that Las Vegas homes are 18.8 percent below what market fundamentals would justify in the third quarter. Las Vegas Homes are considered undervalued out of 330
markets that IHS Global Insight and National City track. The reports researches declare as undervalued any market with prices more than 14 percent below market fundamentals. Six months ago, Las Vegas home prices were 3.1 percent below the values historic fundamentals warrant. That was not enough of a shortfall to qualify as undervalued. Las Vegas ranks near the bottom, at 287 out of 330 markets.
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Las Vegas home buyers should consider this as a clear sign to buy. Along with interest rates hitting 4 3/4% there is not a better time to buy. Las Vegas Homes Undervalued!!
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If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me, Bob Ratliff with RE/MAX CENTRAL LAS VEGAS, at rratliff@remax.net, or call me at 702-807-5528. I look forward to hearing from you!
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