The state of the Las Vegas luxury home market is evolving and adapting and nobody knows for sure what final impact the health crisis will have. Here are some of the pros and some of the cons that I see affecting the luxury home market in Las Vegas:
PROS
Today we have a reduced amount of luxury home inventory
- Interest rates are at all-time lows
- Fed printing of money should make assets like real estate rise in value
- Recessions are usually good for real estate prices
- Californians and others are still attracted to Las Vegas relocation
- Stay at home orders has made all appreciate comfort in their home
CONS
- There are fewer buyers looking for a Las Vegas luxury home
- The number of overall sales are down
- Social distancing limits involvement in the home purchasing process
- Low casino revenue could hurt the Las Vegas economy
Since early May we have watched a steady return to normal. Will Las Vegas luxury real estate be the next V-shaped recovery?
