After a modest decline last month the existing home sales numbers have bounced back to a 2.4% increase from August. This pace remains 1.7% below last September. The Chief Economist for the National Association of Realtors, Lawrence Yun, attributes some of this to carry over from the spring selling season. “Low interest rates and price gains holding steady led to September’s healthy increase, even with investor activity remaining on par with last month’s marked decline,” he said. The luxury home market in Las Vegas appears to be holding steady and seems to be in balance between luxury home buyers and luxury home sellers. As in many markets, there are pockets of exceptional strength such as The Ridges at Summerlin, and areas of weakness.
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