Las Vegas Real Estate Market 2018 Report Shows Growth Until 2021 According to LasVegasRealEstate.org

Las Vegas homes for sale have become one of the most search for markets in the United States since the recession due to price to rent ratios. In December of 2017 Realtor.com released its annual list naming “Top Housing Markets for 2018” ranking Las Vegas #1 by a quite a margin. With a prediction to grow 8.7%, the highest number compared to just 6.4% of the 100 markets reported. Inman News in there yearly report sited the cities of Seattle, Washington; Las Vegas, Nevada; and San Francisco, California; led the way in price. Seattle reported a 12.7 percent year-over-year price increase, followed by Las Vegas with an 11.1 percent increase. Despite the increase in price, Las Vegas remains the best value with the lowest prices for major cities with a current average home price of approximately $290,000.

Local industry expert, William Margita with Urban Nest Realty, says the nation wide numbers have Las Vegas remaining #1 until 2021. Margita recently released his updated 2018 Las Vegas Real Esate Maret report online at LasVegasRealEstate.org. While the report shows the 3 key areas of growth and development in Las Vegas, he says the biggest factor is “Las Vegas is still down 30% from its all time high, that gives us a 30%+ margin over every other city”. The Organization for Economic Cooperation and Development recently released housing changes from ‘pre-crisis’ peak showing Denver and Dallas having the most risk with prices up over 43% since 2007, and Las Vegas as the city at -28% with the least amount of risk.

Ashley McComick, a real estate agent specializing in luxury homes for sale in Las Vegas says “My team is working 7 days a week to keep up with the global demand for Las Vegas strip properties.”. McCormick who has 20 years in the industry says that Las Vegas not only learned from the last recession, it reinvented the market. She mentions both the new NFL Raiders stadium and the new Convention Center expantion in Las Vegas. Both are being partially funded by the tourist tax and resort fees guaranteeing funding for the projects. Las Vegas is currently #1 in the USA for conventions with over 22,000+ conventions a year and conventions booked until the year 2035. Las Vegas is also dominating its tourism record with over 43 Million visitors expected in 2018.

In the last year Las Vegas has seen the reemergence of 3 projects that are all due to be completed by 2021. In addition to the NFL Stadium and the largest Convention Center in the USA, Resorts World is building the largest Casino Resort at $7.2 Billion, Steve Wynn is expanding the WYNN and the Marriott just announced completing the largest hotel building ‘The Drew’ with 4,000 rooms. These five projects alone are estimated to need 10,000 workers who are not currently in Las Vegas. CNBC has Nevada ranked #3 for states to find a job claiming 35,000 jobs were filled last year alone, with double digit growth expected due to construction.

Margita who has been a recognized leader in Las Vegas real estate since 1995 concludes that Las Vegas will be the leader until 2021. He says the money coming in from tourst dollars to contribute for the two largest construction projects puts Las Vegas in a unique position. He reminds buyers that Las Vegas became the ‘Go To’ city during a recession when money was tight and states “Despite the economy, Las Vegas is were people go in all markets to have fun, vacation or make memories.”. Margita can be contact for real estate questions or concerns thru the website LasVegasRealEstate.org

About LasVegasRealEstate.org

LasVegasRealEstate.org is a top rated source for Las Vegas real estate news and market updates to include all MLS homes for sale in Las Vegas, NV and surrounding cities and communities to include Henderson, NV & Summerlin. William Margita of Simply Vegas is has over 20 years experience as an agent, speaker, writer and real estate coach. He can be reached for questions, concerns or bookings at 702-882-8240 https://www.lasvegasrealestate.org/