Las Vegas real estate volatility

[Kevin Gamboa]

Hey,

After speaking with a few investors on their opinions of the Las Vegas real estate market, a few mentioned the volatility of prices associated with this area. Does anybody who owns property or works in the Las Vegas real estate industry know some of the causes lf

Las Vegas’ history of volatile prices?

[Bill B.]

This is the 2nd time in 30 years prices have fallen, so I wouldn’t call them really volatile. Our market is affected by so many things. Mostly being the cheapest housing within 100’s of miles, so many people coming from the north, the east coast and California. We have an elderly population and lots of 2nd and third/vacation homes. 

While it’s “volatile” compared to Des Moines IA (where the opposite of volatile, stable, is a bad thing.) it’s nothing compared to the west coast, Florida, Texas, or other dynamic markets.