New Home Sales

In February of 2005 the sales of single family homes were at an annual rate of 1.23 million. The annual rate percentage revised in January was above 1.2 million, which was 9.4 percent higher than January of 2004. The price of median sales became new because of the houses sold in February of 2005. The price at which homes sold in February was $230,700. The average at which the homes sold was $288,400. At the end of February sales were 444,000. That was the supply of 4.4 months at the average sales rate. The average time it takes to sell new Las Vegas homes is about six months; being the time it takes for construction, contracts to be closed and final inspections to assure the home is in acceptable condition.

REMAX Associates