Las Vegas Bouncing Back is an appropriate theme for this post. It seems as if many have looked at the city of Las Vegas and the Las Vegas Real Estate Market for much of the last two years as a replay of Cormack McCarthy’s The Road (Great Flick but leave the squeamish at home). Well, reading today’s tea leaves and to build on the movie metaphor, we are now moving into The Return of the Jedi Territory.
Why we think Las Vegas Bouncing Back! Today’s Las Vegas Review Article talks about good things that are impacting our local economy. These include improvements in gaming revenue and visitor traffic, two high impact economic variables that “touch” on many other aspects of our economy. They feed the economy in some ways, if you will.
Construction and jobs are still lagging. But, these variables are no different from the rest of the country – Las Vegas is no different in some respects from rest of US. We don’t think these will improve significantly through this year; but, we aren’t economist, just basing this analysis on our limited perspective.
Turning to Las Vegas Real Estate and our them: “Las Vegas Bouncing Back” – the trends are improving. Numbers for January were positive: less inventory, more Short Sales, less Foreclosures, continued investor interest via all cash offers, etc. So, you heard it here first: Las Vegas Bouncing Back!!
