We gnash our teeth at times when we read the National Media – they have a tendency to look at the US real estate market as one hodgepodge of cities all mashed together, instead of seeing it as disparate markets with unique characteristics.
Las Vegas Real Estate is Truly Unique
More than any other U.S. metropolitan area in the USA, demand for housing comes from many different sources here in Las Vegas, including people from outside the US (Asia, Europe and Canada), from retirees, second homeowners and investors. Our lifestyle, amenities, gorgeous year round weather, getaway destinations for millions of individuals and families makes the Las Vegas Real Estate Market truly unique.
The primary driver of Las Vegas’ economy is the hotel and gaming industry. Between 2008 and 2010, about 25,000 hotel rooms are projected to open, or 8,300 a year. That’s a significant increase from 6,300 rooms, or 1,050 a year, added from 2002 through 2007. This creates jobs and the demand for places to live for these new workers. If you run the hard numbers out, it is projected that each hotel room creates 1.55 jobs based on statistical analysis from industry experts.
New Attractions drive Visitors and Cash Flow
As we bring online more new hotel complexes like our drop dead gorgeous “City Center” this in turn drives new visitors to Las Vegas, especially when visitors can get great airfare deals and reduced rates in these rooms when they visit. These new visitors help to generate more “buzz” about what a great place Las Vegas is to visit!
We live here and we know what a special place it is! Call us and we’ll show you some gorgeous homes in some great neighborhoods.
