Las Vegas is a destination for millions of visitors, the city is famous for its vibrant nightlife, exciting gambling and the natural charm of the beautiful desert that surrounds the greater metropolitan area. Therefore, given how hot the local economy was before the pandemic, the Las Vegas real estate market remains strong and biased towards sellers due to population growth and the booming economy, leading to a persistent imbalance in supply and demand.
PwC's annual real estate report states that Las Vegas will enjoy a population growth rate well above the national growth rate. Las Vegas is now among the 10 most overrated real estate markets in the country, with homes selling 41.88 percent above its long-term price trend. Luxury real estate in Las Vegas has driven the market, making it more unaffordable for most over the past year.
At the end of May there were 3,570 single-family homes listed without any kind of offer, 75%, 8% more than last year. During the Great Recession, Las Vegas grew from one-fifth of its residents renting to nearly two-fifths. We can help you succeed by minimizing risk and maximizing the return on your investment property in Las Vegas. Your best tenants would be retirees who intend to move to Las Vegas and want to buy a property to rent.
Las Vegas is a brilliant beacon in the desert for those fleeing California or simply wanting to succeed. Therefore, as Las Vegas businesses open at full capacity, their real estate market will continue to boom with growing demand. Investing in this strong real estate market can be a great way to make money and secure your future.