Las Vegas Real Estate Blog

Fortune magazine recently ranked Las Vegas last in a list of the top 100 housing markets. When it comes to predicted price growth, Las Vegas ranked dead last. The study predicted almost a 13% decrease in housing prices. The ranking was based on predicted price growth over the next two years.

John Restrepo, a local Las Vegas consultant disagrees with Fortune magazine’s recent study. “I get the feeling they didn’t fully analyze the Las Vegas economy and what makes it unique. If you have a market that increases 40 to 50-percent over the next two years and then you have a decline of 7-percent, well are you losing money? No.”

Restrepo believes that Las Vegas is still a hot market for the resale of homes. He stated that the resale market is a good gamble because buyers typically have more room to negotiate compared to new home sale buyers.

This information brought to you by MillionSaverHomes.com a local Las Vegas real estate broker.

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This entry was posted on Tuesday, December 27th, 2005 at 6:50 am and is filed under Las Vegas Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.