Think you've heard enough from the media on the real estate market in Vegas? Who is better at telling the truth about the real estate business other than the people in the business? What does the media know? Only stories that sell news; true or not.

Take a look below at the job projection in the next few years on the Las Vegas strip alone. Tell me afterwards if your opinion of the real estate market changes and shifts to a higher note.  For further clarification and market updates call me or email me.

12/07 Palazzo opens with 4,500 jobs

12/08 Encore opens 6,500 jobs

08/09 City Center opens 11,500 jobs

09/10 Fountainbleau opens with 5,000 jobs

10/11 Echelon Place opens with 11,500 jobs

12/12 Plaza opens with 6,000 jobs

Summary:

  • Total number of jobs is 45,000 by the end of 2012
  • Total number of people is 115,500 with an average 2.5 people per household
  • Approximately 400,000 new in population based on secondary jobs.
  • 30% of population rent, 280,000 people need homes
  • Will need 90,000 homes by the end of 2012
  • 2007 inventory is 30,000
  • Will there be a housing shortgage in the next 5 years? YES

Click HERE to search for Las Vegas Homes for Sale

 Bryan Knight, Real Estate Consultant, Las Vegas, NV

 

3 Comments on Will there be a housing shortage in Las Vegas?? Again???

Everything you say is true but prices are dropping in Las Vegas.  That is why I am not an economist.

12/03/2007 11:34 PM by Matt Kofsky (Reno Rancho Realty)

Correct. Prices are still flat/softneing. But demand will start a definate upturn as the large projects open their doors. Then the supply/demand effect will take place and prices will once again be on the up turn. Nothing like the previous "boom", but an upturn non the less.

12/04/2007 09:52 PM by Bryan Knight (Keller Williams Realty Las Vegas)

 I HAVE TO SAY FOR A YOUNGSTER YOU HAVE A VERY FINE KNOWLEDGE ABOUT YOUR BUSINESS YOU HAVE TO DEBATE YOUR CRITIC AND HATERS ALL THE TIME.SUCH AS  MATT AND THE OTHERS IM IN THE GREATER L.A. AREA IN CA. AND WE NEED MORE POSTIVE PEOPLE HERE BUT THE CRTIC CAN CRY AND LEAVE THE BUSINESS FOR US YOU KNOW WHAT THEY SAY ABOUT WINNERS AND LOSERLOOK FORWARD TO HEAR YOU AGAIN 909-268-8389 

01/06/2008 04:34 AM by loandr777@yahoo.com

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Real Estate Agent: Bryan Knight (Keller Williams Realty Las Vegas)
Bryan Knight
Las Vegas, NV
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Keller Williams Realty Las Vegas

Office Phone: (702) 212-2284
Cell Phone: (702) 845-8435
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