Las Vegas, it appears, has been a good bet, housing wise. The city, decimated by the housing crash, is back in a big way. KSNV reports:
“The prices that are really moving the quickest are homes under $300,000,” Zar Zanganeh said. “Affordable housing is the hardest thing to find, right now, in Las Vegas.”
Zanganeh is the owner and broker of Luxe Estates and Lifestyles. He believes this surge in prices is partially thanks to the city’s growth in employment and population.
“The Vegas market is growing very quickly,” he said. “We’ve got a lot of new businesses, we have 3 new casino projects being built, we have a stadium coming along, we have a medical school that just started in Las Vegas, so there are a lot of people moving to Las Vegas and a lot of money coming to Las Vegas.”
The Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices, David M. Blitzer, credits the same thing for the market boom.