Although the pricing is remaining a bit stagnant, the activity has picked up somewhat. Some analysts say that the market will be “normal” early 2008, but I am still bullish on Vegas. We still have ~7000 people moving to Vegas each month and are only selling ~1,700 homes. Even with another ~1,000 new homes being sold (which is a high number), that still leaves us with a lot of buyers cueing up!
This is not planned to stop. Look at projects like what the Venetian is about to bring online (Palazzo), as well as the new "old stardust" (Echelon), and City Center. These project’s alone are and will for quite some time creating a HUGE job demand.
I think we will see an interesting shift in the market (in a good way) over the next few years. It’s just my opinion.
Mike Pristow
http://www.pristow.com/
mike@pristow.com
702-292-2558
Friday, July 13, 2007
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