National New Home Sales and National Vacancy Rate

It is easy to see a direct correlation between the high number of vacant homes and the lack of a need to build more. Yet here in Las Vegas, the New Home builders are starting to reopen their housing tracks.

Do they know something we don't?

So where is everybody living?

Young adults are moving back in with mom and dad.

Grandparents moving in too.

Families are pulling together in hard times.

This could be the only positive of a down economy.

You can click on the images for the complete articles.

Forbes on the Growing Rental Markets Including Las Vegas

Here's Forbes putting a positive spin on the increasing Rental Market.
Of course there are more renters, with Foreclosures and Short Sales being so high.
These people need to live somewhere.
But I wouldn't say this is a positive for our Las Vegas Real Estate Market.
Only if your an Investor, then this is positive news.

New February Real Estate Statistics

Most of the calls we have been receiving lately

have been investors with questions

about Las Vegas and its Rental Market.

You can see a definite trend in Residential Homes being Listed vs. Being Leased.

This Increase in Leased Homes is going to cause a Shortage in Available Rental Homes.

Which could cause a rise in Monthly Rents.

What is happening with Monthly Rents?

Rental Prices on average are still above 2007 levels.

Another interesting Statistic

54% of all purchases in Las Vegas

 in Feb 2011 were Cash.

More and more Investors see Las Vegas as a Great Place to Invest.