Metropolitan Statistical Area (MSA):
Las Vegas, NM is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Las Vegas, NM metropolitan statistical area (MSA) has been one of the hardest hit areas in terms of the housing market crash. However, there are signs that the market is beginning to rebound. According to RealtyTrac, a leading online real estate marketplace, the MSA saw a 12 percent decrease in foreclosure activity in 2013 compared to 2012. This is good news for those who are looking to purchase a home in the near future as prices are sure to begin rising again.
Another positive trend that is occurring in the MSA is an increase in new home construction. This is great news for both buyers and sellers as it will help to increase property values while also giving buyers more options to choose from. Additionally, many of these new homes are being built with green features which will help to save money on utility bills.
Overall, it seems that the Las Vegas, NM housing market is slowly but surely beginning to rebound from the crash. Now is a great time to buy or sell a home in this area as prices are sure to continue rising in the coming years.