LAS VEGAS HOUSING MARKET

[desertrunner]

This is a master thread to follow this specific topic. Please post updates and articles as you find them.

Thank you.

[desertrunner]

June 11, 2024-

The Las Vegas Valley could run out of land to build houses in as little as eight years, and this is definitely cause for concern, the leader of the region’s homebuilders association said.

How soon could Las Vegas Valley run out of land for new homes?

[limitles]

No one here, or any where on a meaningful scale is thinking of relocating to or investing in Las Vegas re:housing,
Just realize this applies to all products purchased in Las Vegas.
Not important to 90% of current “members”
Shut your pie hole

.

[Dan Druff]

It's an artificial crisis.

Much of Clark County (88%) is owned by the federal government, so it's hard for Las Vegas to keep expanding outward.

This section of the article is important:

A spokesperson for the BLM’s Southern Nevada district said the Southern Nevada Public Land Management Act — which was originally passed in 1998 — directed the BLM to sell public lands within specifically designated boundaries in the Las Vegas Valley. To date, almost 44,000 acres have been “disposed” within the boundary through sales, leases and patents, the spokesperson, and another 27,000 acres of land is still available for disposal.

So basically this problem was addressed 26 years ago, but government bureaucracy makes the process of acquiring such land very slow.

There's actually a ton of space in every direction to expand, and most of this land is not being used by the feds, so there's no reason it can't be sold off.

[limitles]

It's an artificial crisis.

Much of Clark County (88%) is owned by the federal government, so it's hard for Las Vegas to keep expanding outward.

This section of the article is important:

A spokesperson for the BLM’s Southern Nevada district said the Southern Nevada Public Land Management Act — which was originally passed in 1998 — directed the BLM to sell public lands within specifically designated boundaries in the Las Vegas Valley. To date, almost 44,000 acres have been “disposed” within the boundary through sales, leases and patents, the spokesperson, and another 27,000 acres of land is still available for disposal.

So basically this problem was addressed 26 years ago, but government bureaucracy makes the process of acquiring such land very slow.

There's actually a ton of space in every direction to expand, and most of this land is not being used by the feds, so there's no reason it can't be sold off.

What you posted is almost jibberish

[desertrunner]

Update-

https://www.reviewjournal.com/?p=317...ibextid=Zxz2cZ

[lol wow]

tell these faggots to go back to california and die is the answer vegas millenials lol

[lol wow]

i was a vegas millennial you could buy distressed condos for like 90k in 2010

[desertrunner]

This is the news I have been waiting for.

Close to 60% of the homes for sale in the Las Vegas Valley have been on the market for more than a month, according to a report.

‘Stagnant’: Many Las Vegas homes sitting on market for more than a month

[desertrunner]

i was a vegas millennial you could buy distressed condos for like 90k in 2010

During the housing boom in the 90s, I remember the numerous colorful road side signs adverting condos and town homes in the 50s, 60s, 70s, etc.

[Walter Sobchak]

This is the news I have been waiting for.

Close to 60% of the homes for sale in the Las Vegas Valley have been on the market for more than a month, according to a report.

‘Stagnant’: Many Las Vegas homes sitting on market for more than a month

Worth a look, I’ve been waiting for the right time to get a second place in Vegas.

[desertrunner]

Supply us going UP, but so is demand. Hopefully when trumps takes office, the economy will settle and interest rates come down.



Why Las Vegas is leading the country in new home listings

Las Vegas’ housing market leads the entire country in one key metric: new home listings.

A new report from Redfin found that year over year up through the end of August, new listings rose most in the Las Vegas metro (12.8 percent), beating out San Diego (11.7 percent) and Sacramento (9.5 percent). New listings fell the most in Atlanta (-19.4 percent).

Las Vegas Realtors President Merri Perry said Las Vegas’ growth is tangible, with the success of professional sports teams as well as the relocation of the Athletics and planned projects such as a Sony movie studio in Summerlin.

“Everyone is coming here,” she said. “I’ve had a lot of cash buyers come in, and a lot of Californians are coming because prices are so high they can sell their property and pay cash here and have a big nest egg because everything in Las Vegas is cheaper.”

Approximately 158,000 people relocated to Nevada from California from 2020 through 2023, making up 43 percent of all new residents to the Silver State during the past four years, according to data from the Nevada Department of Motor Vehicles.

[desertrunner]

Exactly what I have been waiting for-



Las Vegas Valley home sellers are slashing prices on their listings at an increased rate compared with last year, but it doesn’t appear buyers are biting, according to a report.
READ MORE: www.lvrj.com/post/3345780

[Jayjami]

Exactly what I have been waiting for-



Las Vegas Valley home sellers are slashing prices on their listings at an increased rate compared with last year, but it doesn’t appear buyers are biting, according to a report.
READ MORE: www.lvrj.com/post/3345780

Of course the market is down. It’s hard to plan your future when the President changes his economic policies on a daily basis.

[desertrunner]

Of course the market is down. It’s hard to plan your future when the President changes his economic policies on a daily basis.

No liberal, I think the LV housing market has been over priced for years now and that’s why I have been following it. Been waiting for it to cool off and correct.

[desertrunner]

I knew this day was coming. First the housing market crashed and next the hotel industry.



Nearly $7 billion worth of homes are currently sitting on the market for sale in the Las Vegas Valley, according to a new report.
READ MORE: lvrj.com/post/3386315

[desertrunner]

I started this thread last year because I knew the over-inflated market was eventually going to cool...and here we are. -DR



Listings are soaring in this long-famous resort city as residents try to flee — and buyers hold back

Las Vegas, a city once synonymous with fast growth and retiree appeal, is experiencing a rare reversal: Homes are hitting the market in droves, and buyers are holding back.

Sin City saw the steepest year-over-year increase in inventory nationwide, with the number of listings jumping 77.6% in June, according to Realtor.com.

Sellers — particularly retirees and investors — are trying to capitalize on equity gains, and escape rising interest rates and record-breaking heat. Yet many are finding themselves stuck, unable to secure a buyer in an increasingly saturated market.

[desertrunner]

Las Vegas is leading the nation in new home listings, with housing inventory jumping 77.6% year-over-year in June, a sharp contrast to last summer’s tighter market.
Nationwide, newly listed homes rose 6.2% from June 2023, according to the latest Realtor.com Monthly Housing Report, giving buyers more options across the board.
Where housing inventory is growing: https://rltor.cm/7chb63

[desertrunner]

I know Druff said he is waiting to buy a house in Vegas, myself as well. 2026 will be crazy as it will be cheaper to buy than rent an apartment.