Mike Lamb, - Windermere Real Estate/Stellar Group

The Clark County market improved significantly in almost all categories from February to March. The most impressive change was in new sales activity, which soared 38% from February. Other changes included:

New Pending Residential Sales were down 15.3% from last March, but were up 25.1% from March 2009, and up 22.7% from March 2008
New Closed Residential Sales were up 42.3% from February.
Solds Year To Date were down just 2.4% from last March, but were up 34.8% from March 2009, and up 11% from March 2008.
Listing activity was up 9.1% from February, but inventory remained at it's lowest levels since 2006. And more significantly, based on pending sales there was just 6 months of inventory available.
Prices continued to weaken in March. But this was predictable since prices typically lag an improving market.

The challenge now is a growing lack of good inventory . . .

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