Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market.
Supply and Demand:
The market has started cooling and prices have recently plateaued.
Since we're in the Seller's zone, if the Market Action Index resumes it's climb, prices will likely follow suit.
If the Market Action Index drops consistently or falls into the Buyer's zone, watch for downward pressure on prices.
Market Action Index as of June 30th, 2014: Sellers Advantage: 38.9
The median list price in Las Vegas, NV as of June 30th is: $245,000
Asking Price Per Square Foot: $117
Percent of Properties With Price Decrease: 36%
Median House Size 2045 SF
Median Lot Lot: 4500 SFf - 6500 SF
Median Number of Bedrooms: 3
Median Number of Bathrooms: 3.5
Characteristics Per Quartile By Price
Most expensive 25% of properties Top 25% $539K 3583SF
Upper-middle 25% of properties Upper Second $339K 2382SF
Lower-middle 25% of properties Lower Third $204K 1813 SF
Least expensive 25% of properties Bottom Fourth $138K 1401 SF