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Las Vegas real estate market
The Las Vegas real estate market is considered to be in a bubble. The
good news for the Las Vegas Real estate market are the following data
points:
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In 1955, surrounding Clark County had
grown to over 25,000. Life magazine published a big cover story
asking, “Las Vegas – Is the Boom Overrated?” This is not the first
time a bubble in Las Vegas Real estate has been declared!
In Las Vegas in 1995, when the population topped 1 million, bankers
were warning against loaning too much money to prevent
“over-building.”
Las Vegas, Nevada has shown the fastest population growth in the
nation for 18 years straight. This is obviously good news for Las
Vegas real estate.
IIn 2005, abut 7,200 people to Las Vegas every month, that
translates to 86,500 new potential real estate buyers moving to Las
Vegas on an annual basis.
In 2025, about 1.5 million MORE people are expected to be living in
Las Vegas. This is 1.5 million people that may want to move to Las
Vegas over the next 19 years to buy real estate.
That growth rate means a need for more new homes -- so the demand
for Las Vegas homes will continue. Obviously - this is all good news
for Las Vegas real estate!
In 1985, Las Vegas had about 14 million visitors. In 1995, it was 29
million. In 2005, there were almost 39 million visitors. 40 million
tourists in 2006 will pump a lot of money into the Las Vegas
economy. More great news for Las Vegas real estate! A growing
economy and population will continue to drive Las Vegas real estate
prices upward.......
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Las Vegas real estate market ...read
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