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Las Vegas Housing Market

A lot of hard lessons have been learned in recent years about buying homes in boom-to-bust real estate markets. With all the “bad news” about the real estate market in Las Vegas such as high foreclosure rates, declines in residential construction and decelerating property values, this is still good reason to smile. It’s a buyer’s market, and there’s never been a better time to sweep up a good investment.

The slowed Las Vegas real estate market has created lots of inventory for buyers to choose from. Buyers are looking for great deals; sellers are more flexible and in many cases will pay a buyer’s closing cost. This is a huge change from the real estate boom five years ago when buyers in Las Vegas, like in many parts of the country, were dealing with a market where homes were sold as quickly as they were listed.

Nowadays, there are more homes on the market that are reasonably priced with fewer competing buyers. Home sale prices fell 3.5 percent over the last three months. Yet buying real estate in Las Vegas is still among the best investments a buyer or investor can make despite the bleak picture of the nation’s economy. I've been encouraging readers since my posting on December 31st, 2007 that Las Vegas is still my best pick to purchase. The strong Las Vegas job market is a major factor motivating over 85,000 people to relocate to the area each year. This translates to an increase in tourists, jobs and money for the city. Currently, there are nearly 46,000 new hotel rooms are under construction or planned for the next five years.

Buyers who are entering the Las Vegas housing market for the first time or as a veteran have more choice and power. The buyer process is easier, less expensive and better. The deals are popping up all around Clark County. There are many Las Vegas new homes to choose from including condo, townhouse, single-family developments and 55+ communities.

Las Vegas is seeing its strongest buyer's market in years and the good deals are easy to find.  Buyers can locate them in newspapers, drive around the city, or hire a Realtor® who know the market and could guide them through the entire house finding and buying process.

Call me for a referral to a dedicated
Las Vegas Real Estate Agent
that can find you your home!!!!
Casey Moseman

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