The State of Nevada Real Estate

The state of the Las Vegas real estate market has been great if you thinking of buying a home and living in that home for several years. Foreclosures over the last 2 years had pushed prices down to levels not seen here since the mid 1990's. Despite government intervention, foreclosures are still happening, mostly due to job loss. While unemployment is still high, the unemployment rate has stopped going up both here in Nevada and nationally.

The extension of the First Time Home Buyer Tax Credit has also impacted the market in a positive way. Home buyers now have the opportunity to take advantage of the credit for another three months. So it begs the question, will 2010 be the year of recovery for the Las Vegas real estate market?

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