In a recent survey of places best suited for first time home buyers conducted by Money.cnn.com, Las Vegas was named #4 on a list of 10 U.S. markets.
The writers cited a number of factors about our city, paying special attention to our predicted growth rate over the next year, which at 4.8% is higher than all others on the list.
This suggests that first-time home buyers in Las Vegas could benefit early from appreciation, the very driver of long-term wealth in real estate.
Las Vegas is also seeing a steady rise in the sale of new homes, also unlike other markets around the country.
Granted, we still have our inventory concerns, but they are being loosened by all of the developer activity.
Buyers coming from other markets in the west, like Seattle or Denver, would marvel at the cost of a home here.
California buyers would be especially pleased at how far their money could take them here in the Las Vegas home market.
first-time home buyers in Las Vegas could benefit early from appreciation
Las Vegas jobs are on the rise, and they’re not all in the service market.
Two new professional sports franchises will bring management jobs a plenty in both hockey and football. Then, there’s the construction gigs, which will also be impressive. Football stadiums are big, long-term projects. Especially when they’re built in Las Vegas.
The study reported our median home price at $219k. The list was presented as follows:
Las Vegas continues to offer a number of unique lifestyle amenities not found in most markets around the country.
While we are a vacation destination—one the largest in the world—our city and developers do a terrific job in supporting infrastructure for locals, like parks, retail centers, clubhouses, event centers, and recreation opportunities.
No, you don’t have to venture to Las Vegas Blvd. to have a really fun night out with family and friends.
For these reasons, as well as those cited in the CNN study, it’s no surprise to us why Las Vegas is such a great place for first-time home buyers.