As you can see from the illustrations below, the statistics are clearly showing unprecedented growth in Southern Nevada since the market crashed here in 2008-2009.
Nevada is number one nationwide in population growth, personal income growth and job growth. All of this while mortgage defaults are at an all-time low. New commercial construction is literally through the roof and apartment rental rates are increasing which means it is a good time to buy in this market. If you are looking to buy a house in Las Vegas or Henderson, the prices are climbing and if you wait, they are just going to get higher.
Interesting to note how many people are leaving California based upon how many people are surrendering their drivers licenses. California was number one for surrenders in 2018 with over 27,000 leaving their drivers licenses behind. We are seeing a lot of those people. They are just tired of the taxes, cost of living and the political climate.
One last obvious indicator is commercial construction. Not just the Raiders stadium and their office and training facility, but the once shuttered hotel/casino construction projects have reactivated.
Overall, if you are a buyer or investor, home prices are increasing and the inventory is going down. If you are thinking of selling, on one hand you home’s value is increasing but if you did want to sell your home and it was in good shape and priced right, it won’t be on the market long.
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SIMPLY VEGAS REAL ESTATE