Breathing Room For Las Vegas
Some states seem to be facing a real estate dilemma. States like Alaska, New Mexico, and Vermont are continuing to see rising home prices.
Fears by market experts is that these state will start to see problems in their real estate markets like those that have risen in states like Arizona, California, Florida, Nevada, and Virginia.
Las Vegas saw a disastrous problem this last summer. Homes saw rising prices continuously in a market were there was no demand. Sales dropped and caused widespread panic that there could be a housing bubble created.
NAR says that those fears are not justified and that we will see the Las Vegas market level out before the end of the year. That’s good news for consumers locally who just sweated out a hot and worrisome summer.
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