Los Angeles Residents Support Las Vegas Economy and Housing Prices
By TheNevadaGlobeStaff, December 5, 2022 4:19 am
LAS VEGAS, Nev. (702 Times, NV Globe) – In Las Vegas, a record number of residents are currently from Southern California.
The surge of movers brings their cash. According to Steve Budin, a local financial expert, the migration of Southern Californians to Las Vegas has aided the economy.
“An extremely large amount of data shows, the new California residents contribute economically to our state,” said Budin. “The amount of businesses that have relocated here, and these businesses employ many Nevadans.”
Beautiful mountains, fancy casinos, and entertainment destinations are all advantages. Furthermore, many southern Californians believe that home market prices are particularly appealing.
According to Redfin, the median price of a property in Los Angeles is $920,000.
According to the Las Vegas Realtors Association, the median price is $440,000.
However, Thomas Blanchard, incoming president of the Nevada Realtors Association, claims that the big influx of migrants is driving up housing prices in the valley.
“It’s going to become more expensive to purchase here as we try to meet the demand,” said Blanchard. “And are able to charge higher prices for things.”
Despite the increased rivals, Blanchard advises first-time home buyers to aggressively hunt for their dream house immediately.
“You need to get on the home ownership train,” said Blanchard. “To be able to enjoy the benefits of the price evaluations going up.”
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