NARREIA: Las Vegas Market in 2007
Diana Heeb Bivona
Jeromith Sutton, an advisor for the National Association of Residential Real Estate Investment Advisors (NARREIA) sees room for optimism in the Las Vegas market for 2007. According to a recent article, he believes the market will slowly begin to increase again in 2007 - 2008. For Vegas, that translates into a slower price increase and a slower, but steady appreciation rate compared to what was seen in 2005.
He points to the growing numbers of Baby Boomers looking to retire over the next three years is a positive sign for Las Vegas, as the city continues to be a leading destination for retireees. Furthermore, if prices slow and interest rates remain low, Sutton expects many home buyers to return to the marketplace.
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