November home sales surged more than expected

Investors now own over 131,000 homes in the Las Vegas Valley, with sales of previously owned homes in November rising 4.8% from October. Lawrence Yun, chief economist for the NAR, notes that the housing market is gaining momentum, with increasing buyer interest and growing housing inventory. Despite rising prices and tightening supply, first-time homebuyers are making up 30% of sales, while cash sales remain strong at 25%.

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