In my opinion, absolutely! I know there are the anonymous haters out there who really don’t get Las Vegas, but its a fact and I will prove it here! Here are some interesting facts that will give you a starting point to where I am going- it costs less to own than to rent, you cannot build homes for what they are selling them for, cash sales buyers make up 45% of total transactions, the inventory of resale homes is rapidly shrinking which means demand is very high. 2009 sales of single family and condominiums were second only to 2004 in all time sales numbers. So it is very affordable to buy and own a home in Las Vegas especially for our friends in California! Prices on all types of housing are down as much as 70% from their highs! This includes Luxury and Country Club Homes, Luxury High-Rises and traditional single family homes and condominiums!
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These graphs from the OFHEO illustrate that Las Vegas prices are the lowest of major Southwest US cities and that Nevada has the lowest housing prices in the Western Region. Please note that in both charts prices indicated are below the projected inflation line. DSnews.com reports that Las Vegas is: “poised for a comeback” and buyers now can “look forward to long-term appreciation.” The Wall Street Journal reported that: “Las Vegas is Second in the Nation for Diminishing Supply” and most recently the Las Vegas Review Journal reported “Las Vegas home sales up 36.9%“!
So, to sum it up, Las Vegas has the lowest housing prices in the region and demand is near all-time highs! Prices have stabilized and projected to rise up to 4% in 2010.
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The biggest drivers for growth in the housing market and the local economy are the low tax environment, retirement of the Baby Boomer Generation and Californians seeking lower costs of living and low tax environment for themselves and their businesses. Nevada also has huge wind, solar and geothermal industries which are in their infancy. The development of these energy resources and the delivery and distribution mechanisms will produce large amounts of jobs and added economic vitality! So let me know what you think! Feel free to leave a comment or question, I will be happy to respond!
Filed under: Local Economy and Market Conditions, Real Estate in Las Vegas, Summerlin Real Estate, Uncategorized | Tagged: Buy a home in Summerlin, Buy Real Estate in Las Vegas, Buying New Homes in Las Vegas, Find a professional Summerlin Realtor, Las Vegas Economic Conditions, Las Vegas Real Estate Market, Now is the time to buy real estate in Las Vegas!, Real Estate in Las Vegas, Real Estate Investing in Las Vegas, Summerlin Real Estate |
Joseph Ruggeroli's Dynamic Summerlin Real Estate 
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Hello S It is a standard theme Digg 3 column. I played around with the colors and the widgets and took the banner picture myself. Im glad you like it!! Check back for new posts!
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I appreciate the kind words Jane! Look for new posts upcoming!
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