Category Archive : Economy

LAS VEGAS, NV – Despite the fact that inventory levels continue to grow and sales are at lower levels when compared to the same period of time one year prior, home prices in Las Vegas remained at their all-time record high in July 2025, according to a new report released by Las Vegas Realtors (LVR).

As per LVR, in July the median sale price for an existing single-family house in Southern Nevada was $485,000, which represents a 1 percent jump year-over-year, as per data pulled from the Multiple Listing Service; this ties the record high established during the first three months of 2025 and once again in June.

Starting in January, home prices in Las Vegas reached and maintained their all-time record high of $485,000 for three months in a row; April finally saw that number dip to $480,000, and that dollar amount remained firmly in-place for May as well, before surging back to the record-high level of $485,000 in June, and now holding firm at that amount in July.

Meanwhile, July saw prices for condominiums and townhomes decrease to $290,000 from June – when that amount was $305,000 – which represents a decrease of two percent year-over-year. The last all-time record high price for condos and townhomes in Vegas was established in October 2024, when that amount reached $315,000.

Meanwhile, the number of homes available on the market in Vegas has gone up; the number of single-family homes for sale in July rose 54 percent year-over-year, along with the inventory of condominiums and townhomes, which jumped 77 percent. There were 7,147 single-family homes listed for sale without offers at the end of July, in addition to 2,622 condos and townhomes.

The biggest headline coming out of our housing market this year has been our increasing inventory,” said LVR President George Kypreos. “More homes to choose from is good news for buyers. It’s also a sign that the market has been cooling down lately.”

Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Currently, there is a new trend across the real estate market in the United States where the inventory of homes for sale has increased drastically across the board, and Las Vegas is currently experiencing the highest degree out of the entire nation, according to a new report.

As per a report released this week by the National Association of Realtors (NAR), the number of listings on the market without any offers in Las Vegas is currently up a whopping 77 percent year-over-year, with the valley currently leading the nation in this metric.

Broken down by listing type, Las Vegas Realtors reports that there were 6,992 single-family homes for sale with no offers at the end of June, which represents a 70 percent jump year-over-year; meanwhile, there were 2,564 condominiums and townhomes without offers, an 87.6 percent increase over the same period of time one year prior.

June sales in Vegas showed a decrease of seven percent year-over-year, with the average home for sale remaining on the market for over 30 days; 80 percent sell within 60 days.

One contributing reason for the situation in Vegas, NAR notes, is an abnormally high number of retirees currently leaving Southern Nevada, with their homes subsequently and thoroughly flooding a market already experiencing a high degree of saturation in recent months. 

However, Las Vegas Realtor Jeff Crampton noted that there are two other reasons that Vegas’ inventory is swelling so much at the moment.

It’s been some time since we had this many homes on the market,” he said. “Two factors are keeping buyers on the shelf. One is the interest rates, and the other is the unsettling financial news on our TV every freaking day. Tariffs. No tariffs. War. No war. When people are going to spend hundreds of thousands of dollars on something, they want certainty.”

Coming in second in terms of home inventory spikes is Washington, D.C. at 63.6 percent, followed by Raleigh, North Carolina at 56.4 percent.

Nationally, the overall increase in home inventory year-over-year for sale is at 28.9 percent.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – A new Redfin report speculates that prices of homes in the Las Vegas Valley could begin to drop in the second half of 2025, based on a variety of factors.

A senior economist at Redfin, Asad Khan, has said that the valley is currently experiencing a “weak homebuying season,” as evidenced by the fact that pending sales in May decreased 17.7 percent year-over-year, placing it third in terms of pending sales drops in the entire nation, behind only Fort Lauderdale at 18.6 percent and San Jose at 18.3 percent.

At the same time, Las Vegas registered the highest active listings growth in May among the top 50 metro areas in the U.S. The reason for low sales has been particularly weak demand in the Las Vegas region,” Khan said. “High mortgage rates and high prices are keeping a lid on demand, even though the stock of homes for sale is growing. Most sellers in the Las Vegas metro area have significant equity in their homes created during the run-up in prices, so few sellers are feeling the pressure to sell quickly with prices still rising.”

As per Las Vegas Realtors’ monthly report, in June the median sale price for an existing single-family house in Southern Nevada was $485,000; this ties the record high established during the first three months of 2025, after which that price dropped to $480,000 in April and May before rising back to its previous record high once again.

Amid these record high prices, however, sales in the region have continued to drop, which Khan attributes to not only affordability concerns, but also high interest rates on home mortgages; that, he said, will likely contribute to sales continuing to slow down, which will eventually translate to buyers having more negotiating power going forward.

There are still hundreds of thousands more home sellers than buyers nationwide. But some would-be sellers are sitting on the sidelines as the market tilts more and more in buyers’ favor in much of the country,” Khan said. “Pending home sales fell 2.3 percent year over year during the four weeks ending June 22, the biggest decline in three months. There are two key reasons why home sales are slow. One, housing costs are still soaring, with home-sale prices up 1.6 percent year over year to a record high and mortgage rates sitting near 7 percent. Two, many would-be buyers are holding off due to widespread economic uncertainty and recession jitters.”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Following a brief two-month respite, home prices in Las Vegas are once again back up to their all-time record high level, according to a new report by Las Vegas Realtors (LVR).

As per LVR, in June the median sale price for an existing single-family house in Southern Nevada was $485,000, which represents a 2.1 jump year-over-year, as per data pulled from the Multiple Listing Service; this ties the record high established during the first three months of 2025.

Starting in January, home prices in Las Vegas reached and maintained their all-time record high of $485,000 for three months in a row; April finally saw that number dip to $480,000, and that dollar amount remained firmly in-place for May as well, at the time prompting experts to speculate that it signified the possibility that the market could be slowly shifting to favor buyers once again.

Meanwhile, June saw prices for condominiums and townhomes at $307,000, which represents a slight decrease from May, but nonetheless an increase of 3.4 percent year-over-year. The last all-time record high price for condos and townhomes in Vegas was established in October 2024, when that amount reached $315,000.

LVR notes that a combined total of 2,461 homes, condos and townhomes were sold in Vegas in June, which is a seven percent decrease from the same period of time last year for homes, and 14.9 percent drop for condos and townhomes.

LVR also reported that there were 6,992 homes in Southern Nevada listed for sale without an offer by the end of June, a 70 percent increase year-over-year, and 2,564 condos and townhomes, 87.6 percent increase. But LVR President George Kypreos noted that this trend continues to represent a degree of stability returning to the Vegas housing market.

Although home prices bounced back to their previous peak, prices have actually been pretty stable so far this year,” he said. “The biggest change in our local housing market lately has been the increasing number of homes available for sale, which is good for buyers. It should also be prompting to sellers to be realistic when pricing their properties.”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Windsor Park, a neighborhood located in North Las Vegas, has been sinking into the ground for decades – with its homes slowly falling apart as a result – and a developer that has been tasked with building new residences in their place is facing strict deadlines before his funding is yanked off the table.

The neighborhood was built in the 1960s and was originally made up of 241 homes; that number has dwindled down to just 90 today. Proper studies of the land that Windsor Park was built upon were never made; as a result, existing fault lines that were aggravated by groundwater pulled from an aquifer under the neighborhood resulted in homes gradually sinking into the ground. The result was disastrous – walls inside homes cracked, porches collapsed, and sewage pipes shifted.

Community Development Programs Center of Nevada – developer Frank Hawkins’ nonprofit affordable-housing firm – was awarded a contract for $37 million in 2024 to build a new 93-lot subdivision to provide housing for Windsor Park’s remaining residents. To date, plans have been drawn up, but construction has yet to begin.

However, since the money for the project is made up of public funds, Hawkins is up against strict deadlines. Under the terms of the contract, $25 million of the funds allocated for the project are made up of federal COVID relief funds, and if they are not spent by the end of 2026, those funds will no longer be made available.

In addition, another $12 million of the money earmarked for the project comes from the state of Nevada, and its expenditure must be committed to by June 20 and spent by September 15; any portion of that $12 million that has not been spent by the deadline goes back to the state.

So far, officials indicate that $11 million in COVID funds have been spent on the project, mostly consisting of $9.9 million towards the purchase of the land to be developed, located along Carey Avenue just west of Martin Luther King Boulevard.

As part of the contract, Hawkins is allowed to procure additional funding from other sources, but officials are growing worried that the developer may not meet the deadline to spend the $12 million allocated by the state.

Clearly, it’s a concern,” said State Senator Dina Neal (D-North Las Vegas), who introduced the Windsor Park Environmental Justice Act bill that ultimately funded the project. She has since sponsored a new bill to potentially extend the deadline for the $12 million expenditure by an additional two years.

However, Hawkins said that he is not worried about meeting the looming financial deadlines.

Even if I did, there’s nothing I can do about it…it’s not my purview,” he said.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Southern Nevada is currently experiencing a large amount of home sale cancellations, and while this is following a nationwide trend, it is a phenomenon that has grown more pronounced in Las Vegas when compared to most other major metropolitan areas.

According to Redfin, in April 2025 14.3 percent of all home-purchase agreements nationwide were cancelled, which equates to contracts for approximately 56,000 homes; this represents an 0.8 percent increase in such activity over April 2024, when that percentage was 13.5.

Las Vegas has landed in the top ten of major metros that are experiencing higher-than-average levels of home sale cancellations, currently ranked at number eight with 18.6 percent. The number-one ranked city in cancellations, however, was Atlanta, Georgia, which saw 20 percent of all home contracts nixed in April.

Redfin cites several reasons for this uptick in last-minute cold feet when it comes to home purchases, such as a greater amount of inventory on the market – which results in a wider array of choices for those looking for a house – as well as the current uncertainty gripping the nation when it comes to both the economy and politics.

However, the number one reason for the rise in home contract cancellations simply comes down to dollars and cents; both home prices and interest rates on mortgages are remaining “stubbornly high,” according to Redfin, leading to more and more buyers panicking and pulling out of deals at the last moment.

Other factors include buyers making offers on properties sight-unseen, and then changing their minds when finally touring them in-person; buyers failing to sell their current home to raise funds for a new one; and finally, buyers’ remorse when they discover what their monthly payments will be once everything is factored in.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Home builders in Las Vegas are starting to slow down their construction plans and output amid a dip in sales that is being attributed to both high prices and high interest rates on home mortgages in Southern Nevada.

According to a newly-released report by Las Vegas-based Home Builders Research, in Las Vegas in April 2025 there were only 766 net sales – that is, sales contracts that were newly signed, not including cancellations – which represents a year-over-year decrease of 29 percent.

Meanwhile, the houses in question were sold for a median price of $529,833, which is a jump of 8.1 percent from April 2024.

What makes this decrease in sales especially significant is that it occurred during what is normally the busy spring buying season, which Home Builders Research President Andrew Smith said is an unusual development for the region.

The market is steadily slowing week to week lately, unexpected for this time of year,” he said in the report, adding that net sales over the course of 2025 so far “continue to underwhelm” when compared to the same period of time last year.

Another issue, Smith added, is that homebuilders have been repeatedly increasing their base asking prices. This is causing a trickle-down effect upon the local market, as higher prices are causing fewer buyers to take the plunge, and with fewer buyers, builders are scaling their plans back.

As a result, builders are pulling less permits; Smith noted that last month there were just 978 permits issued for new homes in Las Vegas, which is a drop of 19 percent when compared to April 2024.

Basically, buyers are becoming leery of investing the money it takes to purchase a home – both in Las Vegas and nationwide – due to high prices, high mortgage rates, and the overall economic uncertainty that is currently gripping the country.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Cryptocurrency – a digital currency designed to work through a computer network that is not reliant on any central authority to uphold or maintain it – has become an increasingly popular form of investment in recent years.

The most prevalent form of crypto is Bitcoin, which as of May 8 was once again trading at a price point of over $100,000. And a growing number of individuals are using it – as well as other forms of digital currency – to engage in real-world investments such as real estate.

The first-ever physical purchase using crypto was made in 2010, when a programmer named Laszlo Hanyecz bought two pizza pies for 10,000 Bitcoins. And since then, crypto’s presence in the real world has only grown.

On a recent episode of Yahoo Finance’s Opening Bid podcast, investor Grant Cardone noted that he’s been purchasing real estate with Bitcoin, with his most recent endeavor being a deal made for a piece of property valued at $88 million that he acquired for $72 million in currency and $15 million in Bitcoin. The money he generates from the property, he uses to buy more Bitcoin.

In several years, even if the property merely retains its $88 million value instead of going up, his profits will increase overall due to his purchasing of Bitcoin at today’s current rates, provided its worth continues to go up.

But while Cardone has found success in investing in real estate utilizing digital assets, experts are pointing out both the pros and cons of such financial maneuvering. Ian Kane, CEO and Founder at Firepan, said that the instability of the crypto market could result in short-term losses, but those looking at long-term investments could benefit.

Long-term holders sitting on significant gains may want to convert a portion of Bitcoin to real estate as a way to diversify,” Kane said. “They get peace of mind and don’t run the risk of seeing 6- or 7-figure portfolio swings. Plus, real estate offers passive income opportunities and can be a hedge against crypto’s volatility. However, if Bitcoin’s price pumps shortly after the purchase, you may have buyer’s remorse.”

Something that might be safer than using crypto to buy the property itself, Kane noted, would be using it to finance a loan.

The loan is secured by the real-estate + BTC, and you can make your monthly mortgage payments as a percentage of your BTC, denominated in USD,” he said. “This is the best of both worlds!”

However, Louis Adler, Co-Founder, Principal and Real Estate Broker at REAL New York, was less positive reggarding crypto-backed real estate investments.

While it’s an interesting concept, I don’t believe buying real estate with Bitcoin is practical in most cases – at least not yet,” he said. “Real estate is still a fundamentally traditional asset class, and the volatility of crypto creates too many unknowns for both buyers and sellers.”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – In March 2025, prices of homes in Las Vegas remained at their all-time record high for the third straight month in a row, according to a new report released by Southern Nevada real estate industry group.

Las Vegas Realtors (LVR), using data from the Multiple Listing Service, confirmed that the median sale price for a single-family home in the Las Vegas Valley in March was $485,000, the highest that amount has ever been; that record-setting price has held steady for the third month running after it was initially set in January and remained firmly in-place in February.

George Kypreos, LVR President, said that the median price maintaining its current level without change represents a positive development for those looking to buy a home in Southern Nevada, as it denotes a rising degree of stability in the local real estate marketplace.

It’s interesting to see that the median price of existing homes hasn’t changed since the start of 2025,” Kypreos said. “This is another indication of stability and how homes prices have been increasing more gradually. At the same time, home buyers are benefiting from more homes available for sale and a recent drop in mortgage rates.”

There were 5,416 homes listed for sale in Las Vegas at the end of March without any offers, which represents a whopping increase of 63 percent year-over-year; in that same month, there were 2,712 residential sales – comprised of homes, condominiums, and townhomes – which was a jump of 2.9 percent from the same period of time in 2024 for houses, but a drop of 3.4 percent for condos and townhomes.

Local home sales have been rebounding from a slow year in 2023,” LVR said in a statement regarding the rapidly fluctuating Las Vegas market. “LVR reported a total of 31,305 existing local homes, condos and townhomes sold during 2024. That was up from 29,069 such sales in 2023 – the slowest year for existing local home sales since 2008. LVR tracked 35,584 total sales in 2022. That followed a record year for existing local home sales in 2021, when LVR reported 50,010 total properties were sold.”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – The impact of the tariffs instituted by upon Mexico, Canada, and China have already been experienced by the real estate industry in the Las Vegas Valley, causing difficulties for some developers who are now encountering elevated building costs.

Nigro Construction – which has operated in Southern Nevada for four decades, focusing mainly on health care, retail and industrial projects – is one such company, with the commercial contractor’s Vice President of Business Development and Project Management, Cory Frank, noting that they are currently paying more for various building supplies than before.

However, Frank said that costs are rising and falling depending on the circumstances of each project, causing a sense of uncertainty in the industry.

In the Las Vegas commercial construction industry, we’re directly feeling the impact of tariffs on steel and aluminum, both of which come from Mexico and Canada,” he said. “While this is a dynamic situation that continues to change, our subcontractors are currently seeing anywhere from 10-15 percent increases in material costs, with some projections reaching 20-25 percent in the next few weeks.”

Two of the United States’ primary trading partners, Canada and Mexico, have had tariffs on various materials and goods as high as 25 percent imposed upon them by the Trump Admin, with China currently having 10 percent tariffs on certain goods.

Two of the industries in the U.S. that are expected to experience the impact of the tariffs the most are automotive and construction, due to the fact that their main supply chains emanate from the nation’s immediate neighbors to the north and south.

However, Frank said that the construction industry is attempting to roll with the punches and adapt to the increasing costs of doing business by working smarter, not harder.

These increases are impacting budgeting and project timelines, but as a contractor, our priority is making financially responsible choices that help our clients save as much as possible while keeping projects on track,” Frank said. “While tariffs are pushing costs higher, we and our subcontractors are doing our best to stay ahead of them by planning purchases in advance and making smart sourcing decisions.”

Experts note that the tariffs may have a greater impact upon multifamily projects in Las Vegas – as opposed to commercial ones – due to the different materials required, potentially resulting in higher price increases and/or cancellation of projects, which could put a strain on a market already dealing with insufficient housing supply.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – According to a new report released by Redfin, the Las Vegas Valley currently has one of the highest instances of pending real estate deals falling through in the entire country.

In January 2025, the valley placed third in the nation in terms of the number of pending home sales being cancelled, with about 17.9 percent of them failing; this also represented a year-over-year increase, as the rate for the valley in January 2024 was 16.4 percent.

The top spot was taken by Atlanta, Georgia, which placed first at 19.8 percent, and followed by Orlando, Florida in second place, with 18.2 percent, as per Redfin.

Realtor Mike Roland said there are a lot of potential roadblocks that can get in the way of a real estate transaction these days, and that Las Vegas is currently feeling the effects of those issues more than most areas.

It doesn’t take much to blow up a deal these days. Even the smallest issue can lead to a cancellation, especially with the lingering uncertainty surrounding the economy,” Roland said. “On top of that, with inventory increasing, buyers have more choices and are becoming more selective. If there’s a rough inspection or appraisal issue, buyers aren’t sticking around like they would a couple years ago. In today’s slowing market, growing inventory means buyers have options, and they’re taking their time to choose wisely.”

However, the amount of real estate transactions falling through is up pretty much throughout the entire country; in January 2025, the failure rate was 14.3 percent, the highest number since 2017 and a noteworthy year-over-year bump from 13.4 percent.

Redfin cited several reasons for the rising number of cancellations nationally, including economic uncertainty, supply rising while demand is falling, and sticker shock on the part of buyers as it relates to current elevated home prices. For example, Las Vegas home prices reached their all-time high in January, hitting $485,000, with that number remaining the same in February as well.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – As the housing crisis continues in Southern Nevada, state officials announced this week that ground will soon be broken on two new affordable housing apartment complexes in Las Vegas, bringing a total of 201 much-needed units to the city’s residents.

The Southern Nevada Regional Housing Authority (SNRHA) confirmed that one of the new affordable housing communities will be located at the intersection of Duncan and Edwards, whereas the other will be at 28th and Sunrise.

The combined total of 201 units will be made available to lower-income Las Vegas residents; the main requirement for consideration is that the applying household as a whole is earning between 30 and 80 percent of the area’s median income.

According to the National Low Income Housing Coalition’s data, Nevada is currently lacking in terms of affordable housing units, with more than 78,000 needed; Las Vegas accounts for the majority of that shortfall, with the city in need of at least 60,000 units – which comes out to 14 units available for every 100 needed – if not more.

In addition, as per research provided by the Lied Center for Real Estate at the University of Nevada, Las Vegas (UNLV), Nevada ranks in the top three of states where renters are especially feeling financially burdened by their housing expenses; currently, UNLV estimates that approximately 45 to 50 percent of tenants are spending over 30 percent of their monthly income on keeping a roof over their heads.

However, Nancy Brune – City of Las Vegas Councilwoman and Vice Chair of the SNRHA – is hopeful that the two new affordable housing complexes that are now in the works will go some way to addressing the city’s housing crisis, but also acknowledged that much more needs to be done in order to make a real impact.

During the great recession, Nevada was hit by a couple of big economic fallouts and back in 2008 we just stopped building because there was a lot of uncertainty,” Brune said. “I think we are just catching up to meet the demand we are seeing. We are one of the fastest growing states in terms of people coming here, and we just haven’t caught up yet to the demand.”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com