CONDO AND TOWNHOME MARKET IN HENDERSON AND LAS VEGAS IS HOT RIGHT NOW!

Sales of single-family homes in Las Vegas and their median price increased in February from the previous
month, while the inventory of available homes for sale decreased and continued to decline according to the Las Vegas Association of Realtors.

Realtors sold 3,053 homes during the month, a 4.2 percent increase from January and a 17.8 increase
from February 2011.

The median price rose to $121,000, up 2.5 percent from the prior month, but still down 5.5 percent
from a year ago.

Inventory declined to 18,870 from a peak of more than 24,000 in 2007. Of those only 6543 units are
available without contingent or pending offers.

"It's the supply and demand theory, a logical chain of events happening", said a leading Realtor.

"If banks get to full-bore on releasing inventory, we might see prices go down again."

The median price for 741 sales of Condos and Town Homes in February was $60,000, the highest its been
since May. Condo activity declined 16.2 percent from a year ago, to 4,016 units in February.

"The market has bottomed out" according to another Realtor, I have buyers all day for Condos under $80,000."

Some real estate agents are saying that prices could go up by as much as 10% in the next few months if lenders figure out how they can comply with the robo-signing law that went into effect in October.