Las Vegas home market report
According to the 2004 numbers appreciation in Las Vegas was reported to exceed 50% in certain areas and reported to be above 35% for the entire market. One point to keep in mind is that what happened in 2004 is not going to repeat itself in 2005. While in January/February there 12-15% appreciation for the Las Vegas market.
Appreciation that is in double digits is wonderful in any market and you could upto 20 times your return on investment if leveraged correctly. But this sort of growths can not expected every year.
Talking of real estate bubble for Las Vegas market has become quite the fashion.
Though salaries remain relatively the same, housing is becoming a much larger percentage of the cost of living in many metropolitan markets. As many baby-boomers reach retirement age combined with a longer life expectancy more and more of them are looking for second / vacation homes and the demand remains high from this segment.
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