Las Vegas Housing - A Good Investment at 7.8% Growth

An Article Today in The LVRJ stated 

that Las Vegas Housing Market is Up 7.8% over the past year.

Rising Faster than US Median Growth of 5.1%

What I found more interesting was that the Las Vegas Median Home Price of $206,800 

is so far below some other Major Cities - Median Prices.

San Francisco, CA  -  $ 809,500
Los Angeles, CA  - $ 574,600
Washington, DC  -  $ 370,100
Boston, MA  -  $ 398,200
San Francisco, CA  -  $ 809,500
Seattle, WA  -  $ 397,800
San Diego, CA  -  $ 516,200
Denver, CO   -  $ 341,400
Portland, OR  -  $ 338,900
San Jose, CA  -  $ 945,700

These prices make Vegas look like an extremely affordable Housing Market.

Population Growth is having Positve Affect on Housing Market

One of the Most Popular Questions we get is...

Can Las Vegas sustain the current level of growth, 

or are we going to have another Housing Crash?

There are 3 Primary Factors that Influence Housing Demand

 Population  -  Employment  -  Income/Wages

For now we are going to look at Population.

According to the US Census Bureau,

Las Vegas Area is the #5 fastest growing Metropolitan Statistical Area.

So... Who is moving to Las Vegas?

Retirees, Hockey Players, Football Teams, Car Companies...

Las Vegas still way Below The Boom and Bust Housing Bubble Prices

 The Las Vegas Review Journal and HSH.com put this together.

According to their calculations, 

Las Vegas still has the longest way to go, in % needed, to regain its peak prices.

If that makes any sense...

Just more evidence that we are not in another Housing Bubble.

You can check out all the data HERE