According to the Greater Las Vegas Association of Realtors, home sales in Las Vegas increased for the seventh straight month in July, the most since September 2005. The great news is that sales doubled from the same month last year, while inventory has declined 2.8%. Large chunks of foreclosure homes leaving the inventory is great for the Las Vegas housing economy.

With the foreclosure inventory declining, the resale market can stabilize and home values will appreciate quickly. Although foreclosures have made up a large piece of the home sales in the past few months, only one in five escrow closings was a short sale.

For further information on available homes and home sites, visit www.goredrock.com, or call 702.804.7100.

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