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Future Trends for Las Vegas Real Estate |
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The two most important factors affecting Las Vegas real estate prices are the economy and demographics. The economy goes up and down, but demographics, particularly the baby-boomer generation, just keeps rolling along. To gauge the impact of the baby-boomers on the real estate market, examine the following charts. The first chart shows the baby-boomers in their trade-up home buying years. I fast-forwarded their birth dates by 43 years.
Look at 1989-1999, almost straight up. During this period the Las Vegas area has become one of the top five fastest growing areas in the country. The second chart rolls the baby-boomer yearly births forward 52 years, about when they are becoming empty-nesters and buying vacation homes.
Boomers started buying vacation homes heavily in 1998-1999 and will continue to buy through 2015. The third chart combines the top two birth lags with a 65-year lag for when the baby-boomers begin to buy retirement homes. Las Vegas is becoming one of the nation's top retirement areas, as well as a resort destination.
You can see that demand by the baby-boomers is high and will be steady through 2031, with a small dip from 2016-2019. The impact of the baby-boomers on real estate values has been and will continue to be tremendous. Also, add into the equation the high number of people moving to the area and the pressure increases again. We are in a fortunate time when all the forces are aligned to produce steady price appreciation. The Las Vegas Real Estate Report is updated monthly. For a free subscription, press the subscribe button to the right. For information on a specific neighborhood, country club or new home development, give Edd a call at 702.525.1888, or send an e-mail by clicking . When you want an agent who does his homework, contact me. |
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The Las Vegas Real Estate Report is sponsored by:Edd Ahrens published by:Information Designs |
Edd Ahrens
