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Housing market inventory continues to grow with empty homes

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Updated: 6/13/2013 9:33 pm
LAS VEGAS (KSNV & MyNews3) -- We turn to the empty house on your street--the one you may or may not even know is there.

News 3's Mackenzie Warren has more on this housing problem.

There are tens of thousands of vacant houses blanketing neighborhoods across the valley, yet the Las Vegas housing market is still thirsty for more.

A dying smoke alarm that continues to chirp but this has been the only sign of life in one particular home for the last four years.

There are thousands of homes that share the same story as this one yeah there are a lot of homes.

Tod Barton with Keller-Williams Realty says more than 45,000 empty homes in Las Vegas are just begging for buyers. The reason?

The banks haven’t foreclosed yet and there are tons and tons of homes that are vacant. You're thinking I want to buy that property well you can't because it's not for sale mostly because nobody owns it.

This trend is only compounding an already pathetically low inventory.

Barton says too many buyers are fighting over too few houses.

“I don’t know anybody who could possibly say we're in a buyers’ market --we are so far from a buyers’ market it's ridiculous,” Barton said.

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