Las Vegas predictions for housing market
Predictions that Las Vegas housing market will start declining due to ivestors pulling out and rising mortgage rates are simply not going to come true. Las Vegas booming economy, the number of jobs being created will keep the demand for new homes steady. Prices will generally decline but it will be slow and over time. They won't come crashing down as many experts predicted.Las Vegas has an inventory of about 4200 units in January. With the valley consuming about 900 units per month and builders learning to control the inventory and releasing only certain number of units per month there is a more controlled growth of inventory. The inventory is expected to fall to 3000 units by March this year.
Other trends to watch out for this year include the rise of the mid-rises and better customer service from developers to avoid litigation. Another concept is the e-village which is the trend of the future. Homes or communities will be built around convenience and entertainment. Theatres, stores, shopping, parks and a lot more will form the core of the housing community.
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