The Las Vegas Valley Residential Rental Market Remains Strong after a large spike in May, small dip in June and now a small spike in July.
Long term residential rental landlords are winning in this market!
The median rental price is up $97/month since January. The average rental price is up $251/month since January. The current median price is $1297/month and the current average price is $1546/month. There is only 2.3 months total inventory (8/12/2007) in the Las Vegas Valley MLS.
Expect more pressure on the rental market & prices as subprime money runs out, more people moving to the valley and foreclosures spike.
Compare the rental inventory graph on the left to resale graphs in July.
If you are looking for a rental home: we provide free listings and search assistance. Please give us a call today to get started on your search!
All the Best,
Realtor®
Nevada Realty Solutions - Your Dream, Your Investment, You\'re Home!
8942 Spanish Ridge Avenue
Las Vegas, NV 89148
direct: 702-580-1783
fax: 702-995-8237
Renee@ReneeBurrows.com
http://www.ReneeBurrows.com
Kaye: It's crazy. Rental showings tonight. Sent the client 7 listings THIS AM, she picked out three and only one was available. That's just today!
Rey: Would be nice!!! See my response to Kaye. It used to be half of the listings were unavailable, now we are looking at a 1:3 ratio. Amazing!