There has been so much negative press of late in the national media about Las Vegas Real Estate Rebound or not Rebounding. We’ve been a voice in the wilderness at times, telling our clients and media contacts (interviewing us) about Las Vegas Real Estate Rebounding, coupled with facts and figures, when we are confident about these.
National Numbers Underscore Market Rebound
Today’s National Numbers are certainly indicative of a broader rebound across the country, which we are pleased to report and analyze. Many are saying this uptick in sales is being driven by the $8K Tax Credit being offered by the Feds. We don’t disagree, this is certainly part of the story.
Las Vegas Real Estate Rebound
But, from our perch hear in the dessert we think “affordability” trumps most of the other items. And, if you take a hard look at Las Vegas Real Estate affordability our pricing is at historical lows not seen in 3-5 years, or more depending on the price point.
When you couple this with record low interest rates it’s not surprising to see the tremendous rebound in Las Vegas Real Estate and across the country.
National Association of Realtors Numbers
Here’s the big picture National Numbers: The National Association of Realtors reported today that sales activity is at the highest level in over two years, with Foreclosures or other types of distressed homes accounting for 29% of all transactions for the month of September.
Las Vegas Real Estate Rebound
Is there risk the market could go lower? Absolutely, no one should tell you any different. But, this is simple question, with a complex answer. Market impact on your Las Vegas Real Estate could be driven by a number of factors including the economy (global & national), unemployment, where your home or investment property is located down to the actual neighborhood, how much renovation is put into it (if needed) and what type of finance package you utilize.
The Chinese Symbol for Risk and Reward are the same – that aptly summarizes a lot of the data and analysis!
