Vivinavi : Las Vegas : (United States) Las Vegas

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

Las Vegas Housing Market info (Mar ）)

Hello,

This is from Las Vegas, where temperatures are rising every day.

Recent data shows that Las Vegas home prices are on the rise and the housing market is showing signs of recovery, as Mary Perry, our elected President of LVR （ Las Vegas Realtors ） this year, echoes this view. Mary Perry, our elected President of the year, shares our view. Specifically, the market is emerging from the slump seen in 2023, especially with the median price of single-family homes up 9.4% to $465,000 in March compared to the same period last year, and condos and townhomes also up 8.7% with a median price of $282,500, indicating the overall market is thriving.

Cash transactions accounted for 26.1% of all real estate sales in March. This percentage is down significantly from the peak of 59.5% in 2013. The number of so-called distressed sales is also at historically low levels. While the current high interest rates are well known, please see the attached table showing the location of the highest （ darkest color ） and lowest （ lightest color ） in (from the Wall Street Journal). Nevada and Iowa show the lowest rates in the nation. This, combined with low property taxes in Las Vegas, is good news for primary home buyers. In addition, the eviction process for tenants and squatters is clear and smooth and can be carried out through the courts, making it very attractive and secure for investors these days.

According to data from the Nevada DMV, nearly 158,000 people have moved to Nevada from California since 2020, accounting for 43% of all new residents in the past four years. When I heard the news the other day that the California government is considering taxing individuals and businesses that leave the state, I thought everyone was considering it due to high taxes, regulations, safety, living conditions, and many other factors.

UNLV （ University Las Vegas ） estimates that Clark County's population will grow by about 33,000 this year, bringing the total population to 2.4 million. This reflects the character of the region, which has been growing rapidly in recent years. Projects currently underway include the Brightline ・ West Station on the high-speed rail line and a large casino, resort, and basketball stadium being built in South ・ Las Vegas. Once these projects are completed, the region will see a potential jobs boom. And the jobs it will provide are expected to be inclusive and diverse.

In the future, Clark County's population is expected to exceed 3 million by 2050 and reach approximately 3.4 million by 2080. This population growth suggests economic growth and development in the region, and expectations are high.

Finally, because housing difficulties are expected to continue, we encourage those considering purchasing real estate to consider refinancing in the future and finding the right property sooner rather than later. Also, those considering selling should consider a strategy of selling the property in light of the current weak yen and then purchasing the property again when the yen appreciates in the future. It is possible that housing interest rates will have fallen by then.

That is all the information we have on recent trends and investment opportunities in the Las Vegas real estate market. We are excited about the future prospects and hope that this will be a wise investment for you.

P.S.
Many of you may be looking for people who come to Las Vegas and speak Japanese in various situations. There are few opportunities to see Japanese people in Las Vegas. On a personal note, my dog has become a priority in recent years, so I was very happy when I found out about veterinarians (Blue Cross Animal Hospital) and groomers (Desert Pet Spa) who could speak my native language. And when my husband needed a large amount of medicine, the pharmacist (Albertsons Pharmacy) was very helpful and I am very grateful to them all. Please refer to us someday.