Las Vegas’ steady job growth over the past four years will continue into 2015, resulting in increased demand for housing, reports Marcus & Millichap, although elevated demand is pushing up existing single-family home prices thereby keeping renters restricted from purchasing due to down payments and credit hurdles. Vacancy, as a result, will edge down 20 basis points to 6.4% on net absorption of nearly 1,500 units, pushing rent growth up by 3.4% year over year to $795 per month. For more information, CLICK HERE.
