Recently I wrote about signs of life in the residential real estate market. The Las Vegas Review Journal has published a supporting article on the local market finding its legs again.

The current trends are impressive. First, a record was set for June 2009 with the highest number of single family home, condo, and townhome sales in the Las Vegas area … ever! Exactly 4702 properties in June which exceeds the previous record of 4412 set in June 2004 (per the Greater Las Vegas Association of Realtors).

Single family home sales were up 70% from one year ago, June 2008. This is a clear indication of local real estate having bottomed, and buyers coming into the market eager to invest. David Brownell of Keller Williams Realty in Las Vegas said “Closings are up 82.5% from a year ago“.

There is no perfect correlation between the real estate market and the domain market, but there is a correlation between economic stability and investment capital flowing back into the economy again. If Las Vegas is any indication, investors are poised and ready. Great properties are rare finds, and every investor wants to put their money into something with excellent potential for returns -> real estate, stocks, domain names, etc.

These rare finds are typically identified by astute investors who scour the internet specifically looking for a gem. A parting example of this from the Las Vegas article describes a home that went up for sale and which had received 19 separate offers within a 24 hour period. What does this tell us? Answer: Investors are out in force … and ready to deal. Interesting times.

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