Taking a Look Ahead
In Business Las Vegas recently took a look at where it sees the Las Vegas housing market going in 2007 and early 2008. In addition to taking a look back at the developments of 2006, its tone remains optimistic that the local market will improve in 2007 and that opportunities abound for potential home buyers looking for a great deal.
However, one potential area for concern is the foreclosure market. In 2006, the number of Nevada homes entering foreclosure rose sharply giving Nevada the second-highest foreclosure rate in the U.S. There is concern that this trend will continue into early 2007 as many homeowners face higher interest rates kicking in from their exotic loans.
To read, “Decline of housing market was surprise story of ‘06” in its entirety, click here.
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