The National Association Of Realtors Chief Economist David Lereah’s prediction that home sales may be off by no more than 3% over the next two years may not impact our Las Vegas market as heavily as elsewhere. Given our strong economic growth trends and the fact that problematic sub prime loans are only about 1.5% of all loans outstanding, our market should absorb these foreclosure priced homes without greatly adding to the softening market supply. Although tightening guidelines will prevent some first time homebuyers from qualifying, the projected supply of increased foreclosures is already attracting a larger investor market. Our growth of the Las Vegas Valley of approximately 6,000 new residents each month coupled with almost near 45 year low mortgage rates  will  insure a continuation of our present market activity.