Las Vegas Market Watch
RECOVERY PREDICTED TO BE A CHECK MARK
Nevada Markets to Locals - By Devin O'Connor, Casino.org
With fewer visitors, Nevada is promoting its rural areas to its own people. A new campaign, titled “Discover Your Nevada,” encourages residents to get out and explore the state.
McCarran International Airport, Las Vegas’ main airport, year-to-date has processed 12.3 million arriving and departing passengers, a 54.2 percent year-over-year decline, or roughly 14.6 million fewer people.
Daily auto traffic at the I-15 Nevada-California border is down 25.4 percent January through July.
With fewer visitors, Nevada is promoting its rural areas to its own people.
A new campaign, titled “Discover Your Nevada,” encourages residents to get out and explore the state.
Las Vegas Powerful Analysis
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The tools and research power represents a collaborative effort between the Las Vegas REALTOR and Las Vegas Based company, Applied Analysis.
The charts show the outcomes of the Worse, the Most Likely, and the Better.
LAS VEGAS MARKET WATCH
As the pandemic slows down, the Las Vegas real estate market picks up. With the low interest rates, first time home buyers are purchasing homes. In most cases the mortgage payments are less than rents. The rents will go up over time but the mortgage payment will remain the same while building equity with the average appreciation of 5% year over year.
Available homes maintain 1.6 months of inventory which is over 6000 available homes. Sellers are selling and taking advantage of buying their next home at historically low interest rates.
The rental market continues to be robust. Rental homes are quickly being rented as newcomers continue to move to Las Vegas.
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