theMELTONgroup | Luxurious Real Estate
Think the Las Vegas housing market is about to crash? Here’s the real deal!
Looking to buy? Are you nervous about pulling the trigger on a home purchase? Or maybe you are thinking about selling your home before it all comes crashing down. We have all have heard the recent rumors stating the market is about to crash. Currently, the Las Vegas housing market is out performing all other major metropolitan cities in the USA. According to national experts the Las Vegas market has stabilized. The Las Vegas median home price has remained in the low $300,000 price range since late 2018, making Las Vegas one of the most affordable metropolitan cities and a top destination for people considering relocating.
Experts contribute the market stability and continued growth to our vast employment expansion in construction, medical, tech, cannabis, sports and entertainment, and not to be forgotten the hospitality and gaming sectors. In past years Las Vegas’ economy was sustained solely by the gaming and hospitality industries; however, those days appear to be in the review mirror. According to experts, one on the main factors contributing to Las Vegas’ growth is due to newly passed laws in other states (like California) enforcing unfavorable business laws and practice, which has led to a vast number of companies relocating to the area. Another major contributor to Las Vegas’ dynamic job growth is due to the favorable tax incentives for new and relocating business and no state income taxes in Nevada.
Experts are urging consumers not to confuse the stable market for a cooling or looming slow down. In fact, experts are forecasting the Las Vegas market to continue it’s steady growth for the foreseeable future. The recent trend of record breaking low interest rates now make it one of the most favorable times in our nations history to buy your dream home.