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Real Estate Guide 2007
Analysis by region
National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.
City overview
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Las Vegas
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What happens in Vegas stays in Vegas, and nearby cities are glad for that. Faced with high inventory levels, especially condos, the market is seeing some signs of stabilization, as levels of homes for sale have been steadily declining since May, Chris Porter says. Construction has dropped by nearly 50 percent in the last six months.
4th quarter 2006: $313,500
Median price 4th qtr 2005: $315,900
% change: -0.8%
Projected avg price end of 2007: $333,870
Current avg 30-year fixed rate: 5.80%
Current avg 5/1 ARM rate 5.56%
*Affordability rating: 7.2
Foreclosures in Jan. 2006:
(1 for every 341 households)
1,761
Foreclosures in Jan. 2007:
(1 for every 256 households)
2,344
Change in foreclosures: +33.11%
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Current rate comparison:
» Click here for state vs national rates
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Key market events
 
Key market map
Dec. '05: Median price $315,900
Jan. '06: 30-yr fixed rate at year's low 6.10%
June '06: National median home price $227,100
June '06: Fed makes last of 17 rate hikes
July '06: 30-yr fixed rate at year's high 6.80%
Dec. '06: Median price rises 0.8% to $313,500
Jan. '07: National median home price: $210,600
-- Posted: March 8, 2007




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Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.29%
15 yr fixed mtg 3.23%
5/1 ARM 3.33%
Rates may include points
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