Metropolitan Statistical Area (MSA):
Las Vegas-Henderson-Paradise, NV is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Las Vegas-Henderson-Paradise, NV metropolitan statistical area (MSA) has been one of the hardest hit areas in the nation when it comes to the housing market. This is due in large part to the fact that so many people who bought homes during the housing boom were speculators who were counting on continuing price increases in order to make a profit. When prices stopped rising and then began to fall, many of these speculators were forced to walk away from their homes, leaving a glut of properties on the market and depressing prices even further.
The good news is that there are signs that the worst may be over for the Las Vegas housing market. Prices have stabilized and even begun to rise modestly in some areas, and foreclosures are no longer increasing at the alarming rates they were just a few years ago. This has helped to attract more buyers back into the market, which is helping to slowly but surely reduce inventory levels.
If you're thinking of buying a home in Las Vegas, now may be a good time to do so. Prices are still relatively low compared to other parts of the country, and there are plenty of deals to be had if you're willing to look for them. It's important to remember, however, that the Las Vegas housing market is still very much a buyer's market. This means that you'll need to be prepared to negotiate hard in order to get the best possible price on your new home.