Las Vegas, Top Market to Buy in 2008

Las Vegas was just named as 1 of the top 5 real estate markets to buy in 2008 according to Entrepreneur.com. I believe the reason is because of the massive expansion that is taking place on the Las Vegas Strip. According to the Las Vegas Review Journal, the Las Vegas Strip will create over 113K new jobs over the next 5 years due to the opening of several major projects, such as Project City Center. The creation of all these jobs will have a significant impact on the Las Vegas Real Estate Market!

The local economy cannot absorb all those new jobs which means we will begin to see an increase in people relocating to the Las Vegas Valley to fill these new jobs. What this means is, there will be a huge need for housing. The current housing inventory will begin to fall as more homes are sold compared to new homes coming on the market. This will allow for home prices to stabilize and over the next few years, home prices should start rising!

If you are a buyer or investor looking to purchase a Las Vegas Home, the time is now before home prices stabilize!