The rental sector has surprisingly remained stable throughout all this market turmoil!
Renters are becoming buyers finally as resale purchase prices drop and economic conditions in the valley are preventing high numbers of new incoming residents to move here.
Units Leased:
Average Monthly Rental Rates:
Median Monthly Rental Rates:
Absorption Rate is stable from last month and remains a Landlord's Market at 3.5 months of inventory in the Rental Sector for the Las Vegas Valley.
How to check to see if the home you are renting is in default
If you would like to rent a home in the Las Vegas Area please call 702-966-2494 and press option 2 to speak with a rental specialist.
If you own a home that needs to be rented out and would like to have a full time, licensed and permitted property manager contact you please fill out this form or call 702-966-2494 and press option 0.
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Renee has over 20 years of negotiating, sales and marketing experience to bring to your Las Vegas or Henderson NV Real Estate transaction. Full time w/ REO, Short Sale, Probate & Estate experience!
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Hello Renee, Happy New Year!
It good to see that people are again starting to buy.
Richard
Hi Renee. Rentals are doing great right now!
The rental market here is booming because all of those people who lost their homes in foreclosure need a place to live and current renters don't seem to be doing anything, probably because they either don't have the credit or don't want to take on any big debt with the uncertainty in the real estate market, not to mention companies closing left and right here and unemployment rising.
On the other hand, in November here, home sales were up, and prices down, for the fifth consecutive month in a row, good news for us because one third of San Diego households can now afford to buy a home, up from a mere 7% just 2½ years ago.
The buyers, though, seem to be comprised of a lot of foreigners.
Best wishes for health, happiness, peace, and prosperity in 2009.
Richard: It's crazy here!
Pamela: It's nice in both the resale and rental sectors!
Jim: BINGO! We still have renters even though we have buyers. DOn't know about the credit risk but it should keep prices artificially inflated for a while anyways!