Las Vegas Nevada Real Estate Blog

Many cities in the country are experiencing a decline in the real estate market, but Las Vegas, Henderson and North Las Vegas are still going strong!  Prices did increase so dramatically in 2004-2005, with some appreciation rates in the 40% range, that the natural “correction” of the Las Vegas real estate market was expected.  What continues to fuel our economy, and our real estate market, is the population expansion, job creation and a reduction in the number of available listings noted in both the new home and resale home markets.  Local home builders are obtaining fewer building permits, which keeps the supply and demand in balance.  Many sellers of resale properties have pulled their homes from the market, finding that the speculative pricing they anticipated is not reality.  Both of these trends have allowed the buyers to once again buy real estate at more affordable prices than in the peak of 2004-2005.  The property tax cap also helped to keep investors in the Las Vegas real estate market.  Appreciation is anticipated to be at a more normal pace of 5-15% annually for 2007.