The Las Vegas residential market continues to move in a positive direction despite economic weakness. Low-interest rates, stimulus, and a lack of supply are helping to prop up prices.
Las Vegas Valley Rent Rises
California is playing an unparalleled role in Nevada growth, as the state population surpassed 3 million people and the U.S. Census Bureau ranked the Silver State as the nation's fastest-growing state in 2018. In fact, there are now more people from California living in Las Vegas than people born and raised in Las Vegas. Las Vegas Valley rent rises following a surge of new residents from California.
We’re seeing people that are retiring that are on a fixed income, on pensions that are moving from California to Nevada because their money can go so much farther. People from California who just sold their house and have $300, 400, 500 + thousand dollars, they don't mind paying the extra amount of rent while they get comfortable finding a house here in Las Vegas.
If you, your family or your friends thinking of buying or selling property in Las Vegas please let me know how I can help them.
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