Following this summary of Las Vegas homes and real estate news we have listed recent articles relating to the real estate market in the Las Vegas Valley.
Economic analysts have announced that the Nevada economy is continuing to outperform the national economy. The Las Vegas unemployment rate of 3.9 percent compares favorably with the national unemployment rate of 4.8 percent. Also Nevada still ranks first in the nation in the area of rate of job growth.
Economists also project that the business sectors of travel, tourism and mining will do well during the second quarter of 2006. In Nevada, giving revenue has increased by double-digit rates. The upswing in commodity prices will favor growth in the mining industry in Nevada.
The Home Builders Research President, Dennis Smith, has projected that new home sales (including condo conversions) would decline by about 700 this year to 38,250. New home sales in Las Vegas have been increased from 17,903 in 1995 to a record number of 38,957 new home sales in 2005.
He also projected that new home sale prices will increase during 2006 to $323,939 which is an increase of about 4.5 percent over new home prices during 2005. He believes that existing home sale prices will grow 2.5 percent to $292.125. Resale home prices led the nation in 2004 with an appreciation rate of 38.9 percent!
Real estate price increases not only in Nevada, but also in the neighboring states of Arizona and California have slowed down with inventories of homes on the market starting to rise.
If you are planning to relocate in the Las Vegas area, contact us us for a prompt response to any questions you have about the Las Vegas real estate market. We invite you to visit our website to view updated daily listings of Las Vegas homes at Free Las Vegas Homes MLS Search.
News Articles:
Free Las Vegas Homes MLS Search
- Search Now or Call (702)336-6818 
