Las Vegas real estate in 2012 will no doubt be a wild and wacky and an unpredictable market resulting in broken crystal balls as it has been for the last 5 years. This I am sure of.
My 2012 Las Vegas real estate market trends predictions will depend on several factors:
- Steady interest rates
- Steady underwriting guidelines (LOL!)
- Current laws
- Current market conditions
Houses for rent in Las Vegas are a hot commodity – even with high unemployment rates. There is always a demand here!
Recently, investors purchasing ultra cheap Las Vegas homes for sale and turning them into rental homes. This has produced a glut of Las Vegas rental houses available and pressured rental home prices down – a tad.
With AB 284 rearing it’s ugly head now – this may produce a higher demand for rental homes for the time being as buyers may not be able to purchase a home within their specified time frames. It will take foreclosed homeowners and renters out of the pool, for the time being, however. It is still uncertain if one pool of renter will offset the other.
On the supply side of the Las Vegas rental home market: if resale prices go up (and they are ever so slightly due to the low inventory,) it may make those investors hold off on rental purchases. This all means less rental homes available and hopefully rental prices can stabilize.
The 2012 Las Vegas rental market will definitely prove to be interesting in the end – like all of our other markets!
If you would like to view houses for rent in Las Vegas click here.