What happens in Vegas stays in Vegas is a good marketing slogan. Not reflective, though, when it comes to good news about a recovering housing market in the midst of the subprime mortgage crisis that has occurred over recent months in America.
Yes, if there's one place in America that the subprime mortgage crisis is showing positive signs of recovery it's in the Nevada dessert.
Why are Las Vegas condos hot on the real estate market now, you ask? The news out of the 29th largest city in the United States shows...
- The number of single-family homes listed for sale in Las Vegas dropped, last year, from 23,494 in November to 22,005 in December.
- The inventory of single family homes, according to the Greater Las Vegas Association of Realtors, is up 23.4 percent from December 2006.
- The median price for condos in Las Vegas, compared to last year, is down 5.1%
- Condo sales are up 14% from a year ago.
The ONE Las Vegas master plan includes both private residential towers and a wide selection of residential-friendly retail amenities intermingled with additional residential towers along Las Vegas Boulevard.