Yes, there is chaos on Wall Street. Yes, it will no doubt affect the national economy.The relevant question for this column is, “How will it effect the Las Vegas economy?”
Pending single family transactions are at the highest level of the whole year at 6466 today at 11:30 AM. That is up 143 over the August. [...]

The number of single family closings in Las Vegas came within a whisker of matching the high sales in July. We should see similar results in September because, pending sales (in this case, transactions labeled “C” - contingent - and “P” - pending) totaled 6237 on June 30. These produced the highest of the summer [...]

Las Vegas is selling single family homes a little faster than we did in July. The number of contingent SFR contracts stands at 3809; the number in pending is 2630.
What is pending vis-a-vis contingent? Given the odd contract scenarios foisted upon innocent buyers by the investor-sellers, there is no difference in this context. Both mean [...]

Single family Pending and Contingent transactions continue at the same rates we saw in July. Closed properties are slightly ahead of 15 July. So it looks like more than 2500 closed single family units for August 2008. We continue to see bidding wars on many properties at and below $100/sq ft, but let’s just call [...]

Las Vegas is selling single family homes a little faster than we did in July. The number of contingent SFR contracts stands at 3809; the number in pending is 2630.
What is pending vis-a-vis contingent? Given the odd contract scenarios foisted upon innocent buyers by the investor-sellers, there is no difference in this context. Both mean [...]

Yes, there is chaos on Wall Street. Yes, it will no doubt affect the national economy.
The relevant question for this column is, “How will it effect the Las Vegas economy?”
Pending single family transactions are at the highest level of the whole year at 6466 today at 11:30 AM. That is up 143 over the August. [...]

Here is the updated July 1 to July 31 2008 Single Family Closings graph including all the late postings by the procrastinators according to GLVAR data today. My magic number is 2516.
GLVAR could have a slightly different number when the official number is announced.
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So much for wondering when we would hit 2500.
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Maybe it’s because Las [...]

Demand:
A picture is worth a thousand words.
So you shouldn’t expect to see the graph at left in the national media any time soon.
The graph is generated from GLVAR data from 11 AM today. It shows that we closed about 2400 single family homes in Las Vegas in July.
This puts us ahead of 2007 and [...]

Somebody ought to write a positive headline once in a while, especially when the Las Vegas closing numbers look good.
Pending Sales:
Pending sales for single family homes are above 2700 units today. Pending sales hovered around 2500 during May and 2600 in June and produced closings above 2000 units in each of those months. Contingent sales, [...]

Here’s what I think happened:
I will try to be brief. This is a snap shot, not a docu-drama, but I had to tell somebody.
The media has a different point of view, of course, but in my experience here in Las Vegas, those greedy investors who are now getting what they deserve and those poor home [...]