If you need assistance, please call 702-476-0060

Investors Buying Multiple Homes in Las Vegas

Monday, July 26, 2021   /   by Ken Couture

Investors Buying Multiple Homes in Las Vegas

Investors Buying Multiple Homes in Las Vegas.png
Investors have now bought homes across the United States during the buyout runaway, with South Nevada having the largest increase in trading, especially in the market.

Residential real estate investment rose 279.4% over the same period last year, when overall sales fell at the beginning of the pandemic, acquiring 3,043 homes in the Las Vegas area in the second quarter, according to a new report from listing site Redfin.

Investors accounted for 22.8% of all homes bought locally in the previous quarter, according to Redfin's report.

Overall, Southern Nevada's total investment purchases were listed in the report, ranking fifth of the 41 metropolitan areas. Investors' share of the Las Vegas home buying market is the fourth highest in the country, with Chicago taking second place with an annual purchase rate change of 208.8%.

Redfin didn't provide an analysis of investor types, but in general, these buyers include flippers and those who buy rental homes.

Driven by lower borrowing costs and more out-of-state buyers than usual, the home market in Las Vegas has been seeing record high prices and rapid sales over several months. Sales in the usually busy spring buying season fell for several months, but overall, house-hunters poured in real estate offers and regularly paid their asking prices.

At the same time, there are potentially lucrative times for being a landlord as the rental market in southern Nevada is also overheating, and tenants are facing higher rents and tighter availability.

Redfin senior economist Sheharyar Bokhari said in a news release that investors “see soaring home prices as an opportunity,” as “solid returns are pretty much guaranteed — especially when you’re an investor who has access to extremely cheap debt.”

Investors are also capitalizing on the “surging demand” for rentals, he noted.

“With so many Americans priced out of homeownership, investors can turn an easy profit by buying up properties and renting them out,” Bokhari said.

Aldo Martinez, chairman of the Las Vegas Realtor Trade Association, told ReviewJournal on Friday that investors expect home prices in southern Nevada to reach the point where ordinary buyers cannot afford to buy a house and have to rent.

“They’re banking on it,” he said.

Follow us on:

FB: Ken Couture Realty Your Home Sold Guaranteed

IG: @kencouturerealtylv

Twitter: Ken Couture

Pinterest: Ken Couture

LinkedIn: Ken Couture Your Home Sold Guaranteed

 

Contact us at:

Ken@CoutureRealtyLV.com

702-476-0060

Couture Realty
Ken Couture
8367 W Flamingo Rd Suite 101
Las Vegas, NV 89147
702-476-0060

UP5DB701E1507748.jpgThe data relating to real estate for sale on this web site comes in part from the INTERNET DATA EXCHANGE Program of the Greater Las Vegas Association of REALTORS® MLS. Real estate listings held by brokerage firms other than this site owner are marked with the IDX logo. The information being provided is for the consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. GLVAR MLS deems information reliable but not guaranteed. Copyright 2021 of the Greater Las Vegas Association of REALTORS® MLS. All rights reserved.
This site powered by CINC: www.cincpro.com