Las Vegas, NV March 2008 Rental Home Report

Las Vegas Rental Homes

Inventory has dipped and demand is very high in January traditionally.  Supply will be an issue throughout spring.  Rental Homes with pools are in very large demand.  Absorption has decreased tremendously and with the mortgage credit crisis and valley demand for housing, it is not surprising at all!

Units Leased:

  • March 2008:  1531 
  • February 2008:  1632 
  • January 2008:  1500 
  • December 2007:  1156 
    November 2007:  1452
    October 2007:  1501
    December 2006:  1052
  • January 2007:  1262 

Average Monthly Rental Rates:

  • March 2008:  1342 
  • February 2008:  2788 
  • January 2008:  $1500 
  • December 2007:  $1531 
  • November 2007:  $1493
  • October 2007:  $1511
  • January 2007:  $1295

Median Monthly Rental Rates:

  • March 2008:  1200
  • February 2008:  1200 
  • January 2008:  $1200 
  • December 2007:  $1295 
  • November 2007:  $1200
Absorption Rate is has decreased and remains a Landlord's Market at 2.2 months of inventory in the Rental Sector for the Las Vegas Valley.  Maybe we will see a stabilizing in the rental market coming up.  It seems to be softening every month!

Last Month's Report 

 
Post is included in group: Posts to Localism
Post is included in group: Market Updates
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Real Estate Agent: Renee Burrows - Las Vegas NV Real Estate (Nevada Realty Solutions)
Renee Burrows - Las Vegas NV Real Estate
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Page copy protected against web site content infringement by CopyscapeSpecializing in those forgotten "at" Rhodes Ranch Communities in Southwest Las Vegas that offer peek-a-boo views of the mountains and city lights! I love to watch trends and statistics in this fascinating market! I do have a newsletter that you can subscribe to - so if you want to keep in tune with the Las Vegas Real Estate Market Conditions on a monthly basis, sign up with absolutely no obligation!
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