Las Vegas real estate brokerage volume goes bust

… research shows the sales volume for the top 10 [Las Vegas] brokerages dropped 59 percent from $16 billion in the year ending in June 2006 – the height of the market – to $6.6 billion in the year ending in June 2008.

The top 10 firms sold nearly 44,000 homes two years ago, but sold only about 19,000 homes in the year ending in June.

We are certainly seeing quite the shake out here in Phoenix as well. On the title side of the business, I understand Old Republic let a lot of people go last week.

September 7, 2008 by Realtor John Wake

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John Wake

Born in Phoenix, trained as an economist and now a licensed Realtor, John uses hard data from the real estate market to help his clients -- buyers and sellers of residential real estate -- uncover their best choices for finding the right home or finding a buyer for their current home.

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