Las Vegas, NV January 2008 Rental Home Report

Average & Median rents decreased slightly in January 2008. Inventory has dipped and demand is very high in January traditionally. February's numbers are promising to be pretty for landlords! Absorption has decreased tremendously and with the mortgage credit crisis and valley demand for housing, it is not surprising at all!

Units Leased:

• January 2008: 1500
• December 2007: 1156
  November 2007: 1452
  October 2007: 1501
  December 2006: 1052
• January 2007: 1262

Average Monthly Rental Rates:

• January 2008: $1500
• December 2007: $1531
• November 2007: $1493
• October 2007: $1511
• January 2007: $1295

Median Monthly Rental Rates:

• January 2008: $1200
• December 2007: $1295
• November 2007: $1200

Absorption Rate is has decreased and remains a Landlord's Market at 2.3 months of inventory in the Rental Sector for the Las Vegas Valley.

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