The Dow closed Friday at 15,570, up 1.1% for the week and just 150
points away from its all time high. Stocks
have risen 3 weeks straight as earnings season continues to impress
investors. In atypical fashion, mortgage
backed securities have also rallied during the same period, improving another
100 basis points over the past two weeks, with 30 yr fixed mortgage rates now
in the low 4’s. In completely
unimportant and unrelated news, Twitter is primed to go public and the initial
IPO is projected to open for anywhere from $17-$20 per share.
Southern Nevada Real Estate Related Data
The Las Vegas real estate market continues to be the hotbed of
discussion for real estate analysts nationwide.
Generally speaking, Las Vegas led the nation on the way up in
appreciation during the housing bubble, led the nation on the way down during
the bubble-burst, and now leads the nation again in appreciation on the
recovery. The debate rages on if the
recovery is simply a over-due correction to an over-correction, or if it is
another bubble in the making with shadow inventory potentially looming. What is agree-able by most analysts, is that
the current median price of homes are in more alignment with average house-hold
incomes than during the bubble or the bust.
New home construction is much more aligned with the population growth as
well. I Below is Sales Traq’s most recent release which presents great real
estate data as always. http://salestraq.com/ff/fastfacts-a3l5.pdf
Below is a video clip from Channel 13 regarding the most recent
discussions to move the Mets’ AAA affiliate baseball team, 51’s, to
Summerlin. http://www.jrn.com/ktnv/news/201992581.html
