When determining the future of any housing market, it is only fair to the market specific what talking to a real estate expert. Throughout the year I speak to numerous current and future clients throughout the world. The general questions tend to be about the Las Vegas real estate market, and my opinion on the rental home market in Las Vegas, and sometimes specific like Summerlin versus Green Valley rental properties. While many people tend to follow national trends, and expectations of major cities within the United States, I feel it's important to segregate Las Vegas real estate from the others.
One of the main factors I like to consider is potential job growth. This is a very simple formula, if more jobs are created, the city will grow. And with growth comes appreciation in home values and ultimately increased rents. At the end of the day, Las Vegas real estate investors are ultimately looking for the best return possible on their rental properties. While it is very speculative to pick out the type of real estate vehicle you are looking for,
(ex. condos versus single-family homes) looking at the overall health of a city is easier. For many years Las Vegas led the nation in population growth. Correlate that with numerous large casino projects popping up throughout that time, you have a recipe for success.
Wynn Resorts has continued this pattern by announcing their new expansion in Las Vegas. 1000-room tower in the next few years. These are great signs for the future home prices and Las Vegas rental market, and also for Robinson Realty and Management.
Please look at this article posted last week in the Las Vegas Review Journal for specifics