Comparing to last year’s market we are slowing down quite a bit also for resale we have seen a big rise of inventory. We are seeing listing that haven’t received any offers go up and the number of sales has gone down both resale and new construction. Pricing in resale homes are still rising but they are not going up nearly as fast as they were a year ago. A year ago, around this time we have notice 13 or 14 percent on year over year growth and right now it is at 3 or 4 percent. There is a deal that was announced about a week ago a builder out of Southern California they have reached a deal over two billion dollars to buy William Lyon Homes they are a big builder. They have built The Infinity condo townhouses by Red Rock. In Pahrump they are developing The Mountain Falls community which is a very big golf course. Stay tuned to hear more!
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