Recently, Las Vegas has been the greatest place to purchase a home if you're thinking of buying a home and staying in it for many years to come. Foreclosures over the last couple of years have dropped prices down to some of the lowest levels since the early-mid 90's. Some are wondering how will 2010 be for the Housing Market?
The short answer is that we are seeing a gradual rise in home values. The largest factor being that the Las Vegas Real Estate market has started to stabilize in the past six months. While the foreclosure rate is still high, it has leveled off. That combined with an uptick in buyers who want to take advantage of the low prices on homes, has helped to stabilize the market. It is clearly a Buyer's Market but, keep an eye on interest rates as there is some indication that they may start to rise by the end of summer.