I just checked to see how many single family residences are listed by the MLS in the Las Vegas area and was somewhat surprised to find that there are currently 7,134 active listing that are not under contract. That compares with over 8,000 just a couple of weeks ago. Inventory is declining with stunning rapidity. It used to be prices going down and inventory increasing. Prices as of yet do not seem to be increasing. However, the precipitous declines of the past few years seem to have come to an end. Although there is not yet any significant statistically discernible increase in prices, the recent declines in inventory may well presage those increases.