Improving local fundamentals, which include job growth, population growth and strong visitor volume, is helping to cause effective demand for housing in Southern Nevada. Additionally, the market remains a key destination for retirees and snowbirds.
Las Vegas has gone from boom to bust to something that looks more like normalization. Demand factors like employment are back above pre-recession highs and population is about 2.25 Million, implying a demand for at least 830,000 housing units and likely more. Ho... read more
After a solid mid-year performance, sales have declined as we move out of peak season. Escrow activity also points towards some softer sales in the following month. Listing inventory remains quite low and single family inventory is down nearly four percent. Despite this, pricing has not advanced substantially, perhaps indicating the burst of demand we from the late spring was seasonal and transitory. Meanwhile, most indicators of local fundamentals continue to improve with employment growth of 2.9 percent year-over... read more