Your 4th Quarter Southern Nevada Market Update
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I’m here today with your fourth quarter market update for 2019. We’re heading toward the end of the year, so it’s time to see where we stand. We are seeing a slowdown in the market from last year, but we are currently experiencing more of a healthy, balanced market. Things have stabilized, which is great.
Unemployment is low, and many people are moving here. Nevada was just ranked as the fastest-growing state in the nation. Our climate and taxes are more favorable than other areas of the country, and the cost of living is much lower. We have wonderful weather here, lots of sunshine, and mild winters, so many people are choosing to move to Southern Nevada.
The market remains strong, having increased by about 5% year over year, and rents are up about 5% as well. Interest rates continue to be low, so take advantage of them while you can.
The foreseeable future here in Southern Nevada looks excellent. Many projects are coming to Nevada: The Raiders’ stadium is underway, and they’re also building a practice facility here in Henderson (it looks amazing), Amazon is building a massive distribution center, Google’s building a data center, and Resort World is building a mega-resort. So, there is plenty of growth going on here.
If I can answer any specific questions about the market or your home here, please don’t hesitate to reach out by phone or email. I look forward to assisting you.