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Las Vegas NV Area February 2010 Rental Home Market Report

By
Services for Real Estate Pros with Savvy Home Pix B.1000860.LLC

Las Vegas Area Rental Homes

Renters are becoming buyers finally as resale purchase prices drop and economic conditions in the valley are preventing high numbers of new incoming residents to move here.  This has softened rental prices slightly as many investors are buying all cash in the market currently and then renting.  More homes available for rent (higher supply) and less renters (lower demand.) 

Units Leased:

  • February 2010:  2100
  • January 2010 1784
  • December 2009:  1713
  • November 2009:  1691
  • October 2009:  2015
  • September 2009:  1849
  • August 2009:  2011
  • July 2009:  2029
  • June 2009:  1853
  • May 2009:  1760
  • April 2009:  1677
  • March 2009:  1825
  • February 2009:  1702

 Average Monthly Rental Rates:

  • February 2010:  $1731
  • January 2010:  $1582
  • December 1009:  $1313
  • November 2009:  $1313
  • October 2009:  $1264
  • September 2009:  $1477
  • August 2009:  $1255
  • July 2009:  $1405
  • June 2009:  $1299
  • May 2009:  $1348
  • April 2009:  $1348
  • March 2009:  $1365
  • February 2009:  $1419

Median Monthly Rental Rates:

  • February 2010:  $1100
  • January 2010:  $1100
  • December 2009:  $1100
  • November 2009:  $1100
  • October 2009:  $1125
  • September 2009:  $1150
  • August 2009:  $1150
  • July 2009:  $1195
  • June 2009:  $1195
  • May 2009:  $1200
  • April 2009:  $1200
  • March 2009:  $1200
  • February 2009:  $1200
  • January 2009:  $1200
  • December 2008:  No Data

Las Vegas Area remains a Landlord's Market in the Rental Sector for the Las Vegas Valley. 

How to check to see if the home you are renting is in default

Last Month's Report 

If you own a home that needs to be rented out and would like to have a full time, licensed and permitted property manager contact you please fill out this form or call 702-966-2494 and press option 0

Posted by

Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

copyright 2006-2013 Renee Burrows, REALTOR®, Savvy Home Realty Solutions  702-966-2494

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Comments (5)

Nikki Boad
Accurate Realty Group with Keller Williams - Seattle, WA

first, Great new picture..... I always love the valuable updates you give, I need to work on it.

Mar 24, 2010 11:59 AM
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Renee,

I am impressed with the helpful tips and links you provide people. I espcially liked the one where renters can check to see if their rental is in default. Hopefully the market continues to improve for you guys.

Cal

Mar 24, 2010 12:04 PM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Renee - It's great the Las Vegas NV renter's are turning into buyer's.  I've converted a lot of renter's into buyer's, with prices being so low it usually doesn't make sense to rent.  Why pay for someone elses mortgage when you can pay your own?

Mar 24, 2010 12:12 PM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Renee, 

Fascinating how you track these for rentals.  We are seeing a stronger renter market here for executive homes.  Some are fence sitters, but there is just a lot less inventory available for lease. 

All the best, Michelle

Mar 24, 2010 03:39 PM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Renee - This may be the point that things start turning for the long term.  The investor participation and all cash deals are super but coming back into balance I am sure would be most welcome.  It's always fun to put an owner occupant into their first home. ~ Doug

Mar 24, 2010 05:45 PM