Las Vegas home owners have exprienced the highest home appreciation rates in the country in 2004. Parts of North Las Vegas have appreciated as much as 56% over the past 12 months. What has caused this sudden explosion in home appreciation rates? Simply put---it's a simple case of supply and demand. Most of the las vegas land is owned and controlled by the federal government (BLM Land). The land shortage has led to builders fighting over each acre of land. In parts of Summerlin for example, builders are paying in excess of $1,000,000 for an acre of land. Ultimately, the consumer is the one who pays by way of higher housing prices. In addition to the high cost of land in Las Vegas are the constantly rising costs for building materials and labor.

Take these factors into account---as well as the fact that over 6,000 new families/retirees and 2nd home investors that flock to Las Vegas each and every month---and you will understand why the Las Vegas real estate market will remain one of the hottest spots in the country in the future.

If you would like additional information on new homes in las vegas or resale homes in las vegas, please visit our Las Vegas new homes and Las Vegas resale homes pages.