Las Vegas Real Estate is Predicted to Lead Housing Recovery

The Michelle Sterling Team has witnessed a dramatic shift in buyer psychology in the market for Las Vegas homes over the past three months. As you might expect, the return of strong buyer activity for Las Vegas real estate is a function of price. Las Vegas foreclosures are now so deeply discounted that purchases by first-time buyers and portfolio investors have begun to pour-in to the market. In the perpetual competition for investment dollars between stocks, bonds and real estate, Las Vegas real estate seems to be winning the contest handily. We are working with buyers from across the country that feel confident about the long-term prospects of the most dynamic city in the world and thus feel compelled to purchase residential real estate at these prices in Southern Nevada. Consider these recent comments by Lawrence Yun, the chief economist for the National Association of Realtors…

Las Vegas will lead the nation’s housing market recovery, probably starting in the second half of the year, the chief economist for the National Association of Realtors said recently.

“I think Vegas will be the bellwether of how the nation will recover. Rising sales could help stabilize prices by the end of the year. Vegas is a leading edge and portends what’s coming for the rest of the country and also for financial institutions.”

Lawrence Yun also points out that “the long-term prospects for Las Vegas are bright because baby-boomers reaching retirement age are migrating to cities with warm climates and favorable tax structures.”

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