According to recent industry forecasts, in spite of the temporary blip we're experiencing, the Las Vegas Real Estate Market is set for a period of sustained growth. Mortgage rates remain at a historical low, and Southern Nevada's economy is stronger than most other Metropolitan areas.
Recent increases in foreclosures are just the by-product of the last real estate boom, when many buyers were tempted to view property purchases as short-term investments, similar to the stock market.
Buying a home should always be thought of as a mid to long-term investment. Those who stick to that golden rule should take advantage of the current buyers' market.

The Numbers:

    • 2,000,000 = Las Vegas population
    • 8,000 = number of new people moving to Las Vegas each month
    • 42,000 = new hotel rooms being built over the next couple of years
    • 2.5 = how many new jobs are needed for every new hotel rooms
    • 542 = current number of subdivisions
    • 60 = new vertical (high rise) subdivisions in 2006
    • 16 = number of consecutive quarters of job growth
    • 2.6% = 2007 projected economic growth rate for the Nation
    • 4.8% = 2007 projected economic growth rate for Las Vegas
    • 350,000 = median $ price of a new single family home
    • 550,000 = median $ price of a new high rise unit
    • 50,000,000 = approximate number of visitors to Las Vegas in a year
    • 3.6% = increase in median price of a re-sale home, year on year
    • 6-9% = forecast median price increase of a new home year on year
    • 343 = number of homes sold for more than $1m in 2006
    • 4% = year on year increase in sales of $1m+ homes
    • 45,000,000,000 = $ value of investment already committed
    • 38,000 = forecast of new home sales for 2007
    • 50,000 = forecast of re-sale home closings for 2007
    • 75,000 = forecast of high rise sales for 2007
    • zero = Nevada State Tax Rate: long may it continue!!!

In The Pipeline / Nearly Completed: