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LAS VEGAS REAL ESTATE MARKET PDF Print E-mail

LAS VEGAS REAL ESTATE MARKETThe hallmark of Las Vegas has always been growth! In fact Las Vegas has been the fastest growing city in America for more than the last ten years and this blistering growth rate is projected to continue for the foreseeable future! Las Vegas is truly a world class vibrant city offering unparalleled opportunities for personal and professional growth.

The greater Las Vegas metropolitan area’s population is presently at 1.8 million people – with continued growth driven by our strong economic climate, unique cultural amenities and the availability of diversified real estate communities that suit every lifestyle need and budget! Each day 500-750 individuals move to the greater Las Vegas and 50,000 families (approx) also relocate to our area each year.

Las Vegas Business Climate and Workforce
The Las Vegas metropolitan area ranks number one for job growth in the US for 2003-2012 according to Business 2.0 and Forbes magazines. “Las Vegas is the fastest growing economy in the U.S. by any standard measurement,” stated Price Waterhouse in late 2005.

LAS VEGAS REAL ESTATE MARKET

Las Vegas has also ranked number one in the U.S. for high-tech growth since 1990. The area’s employment growth remains unparalleled and continues to draw residents from all over the world. The greater Las Vegas area is home to a large number of successful businesses, from raw startups to factories with thousands of employees.

While resort/tourism/gaming industries have a large and established market presence and provide tens of thousands of jobs, our economy is diversifying - we are rapidly becoming a powerhouse region that offers job seekers positions in high tech sectors that encompass telecommunications, software/services and related fields.

Job Growth Statistics
According to the Department Education, Training and Rehabilitation in Q-1 of 2006 Calendar 2005 was in fact phenomenal for job growth for the Las Vegas region – with a 7% increase coupled with an unemployment rate of 3.5%, which is one of the lowest rates ever recorded for a major city in the U.S. The Construction industry accounted for 106K jobs, 768K jobs were service industry and 176K jobs were hotel and gaming and 91K were government jobs.

Las Vegas Labor Pool
The Las Vegas metropolitan workforce has a lot to offer any business, with a unique set of strengths, including very high computer literacy, flexibility and mobility. If you are considering relocation or expanding into the Las Vegas area you have the capability to draw from a very large labor pool of educated highly mobile work force.

The Las Vegas metropolitan area labor pool is always growing; approximately 5-7K people migrate to the Southern Nevada region each month, with Las Vegas being the epicenter of this influx of people. The Las Vegas regional population is projected to grow at nearly six times the U.S. rate and economic variables should not impact the projected growth rates, ensuring a steady flow of job applicants for any new employer moving into our area.

 
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