February 9, 2011: Home sales and prices dipped in January but investors filled the void by becoming an even more dominant player in the Southern Nevada housing market.
The Greater Las Vegas Association of Realtors announced today that 51 percent of all homes sold in January were purchased with cash – the first time that threshold has been reached.
The percentage of cash purchases has been increasing for more than a year, and Paul Bell, the GLVAR’s president, said he’s not surprised by the new mark. No other metropolitan area in the country has as many cash buyers, he said, according to the Las Vegas Sun.
