Sin City has seen a rise in available home inventory that is changing the dynamic Las Vegas' dynamics of supply and demand.

One local expert reports to Realty Times, "On the demand side, the sharp decline in affordability reduced consumers' ability to make home purchases. Compounding this problem and exacerbating the slowdown in demand is a belief that housing fundamentals are shaky and that the rapid rise in prices witnessed over the last decade necessitates a sharp decline in prices."

The supply of homes has increased 79 percent -- making for a 223 day supply of homes on the market.

Experts recommend that Las Vegas is still a good market -- for the long term. If you are planning on staying in the market for 3 to 5 years, then you may be able to find a balance. And within 5 to 7 years, it is predicted that the housing surge of the early 2000's could return to Vegas, bringing with it the 5 to 10 percent annual appreciation rates.

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