Las Vegas, NV, July 06, 2014 --(PR.com
)-- Renee Burrows, Broker & Owner of Savvy Home Realty Solutions is reporting that sellers are giving closing cost assistance to approximately only 18% of Las Vegas area home buyers.
Although the number is low, it has risen about 50% since January 2014.
Here is what buyers received in seller paid closing cost concessions on May 2014 Las Vegas Area (Henderson - N Las Vegas - Las Vegas) resale home closes:
Less than $500: 82% ($500 only buys you a home warranty or (no and) an appraisal)
Between $501-4000: 9%
Over $4001: 9%
This pretty much means that sellers aren't giving up much of anything since Las Vegas is a Seller's Market and in dire need of sellable inventory. Inventory levels are rising just slightly and they are seeing some movement/improvement in this sector which is good news, especially for buyers who want/need closing costs.