Home prices are below 2001 levels, without adjusting for inflation, says John McClelland, vice president of research for Coldwell Banker Premier Realty. The below trend price is below replacement cost. Las Vegas, which is both oversupplied and undervalued, is beginning to experience some positive local economic trend, including more visitors, increased gaming and a mild rebound in some employment sectors. When the economy improves, McClelland expects many of the cohabitating individuals to begin forming new households, most likely as renters. Meanwhile, investor owned homes could stop being utilized as rentals. For the full report, CLICK HEREColdwell Banker: Home Prices Below 2001 Levels
Home prices are below 2001 levels, without adjusting for inflation, says John McClelland, vice president of research for Coldwell Banker Premier Realty. The below trend price is below replacement cost. Las Vegas, which is both oversupplied and undervalued, is beginning to experience some positive local economic trend, including more visitors, increased gaming and a mild rebound in some employment sectors. When the economy improves, McClelland expects many of the cohabitating individuals to begin forming new households, most likely as renters. Meanwhile, investor owned homes could stop being utilized as rentals. For the full report, CLICK HERE
