Las Vegas real estate website, Homes By Leslie, reported renters in the United States spent $20 billion more in rent in 2014 than they did in 2013. According to the popular Las Vegas website and blog, the cause is twofold; rent prices are rising all over the country and demand is high.
“Right now, we’re on pace to see double-digit rent increases in Las Vegas and the surrounding communities if the pattern remains the same,” said Homes By Leslie owner and Las Vegas realtor Leslie Hoke.
“Renting vs Buying Homes in Las Vegas? It’s simple economics. Demand is outpacing supply. When that happens prices increase. Also, many people still think renting is cheaper than buying. That used to be the case, but in many cities, it is now far more expensive to rent. There’s been a shift in the market,” said Hoke.
“A recent Zillow study showed renting is about half as affordable as buying. The problem is, many people are reticent, especially in Las Vegas, to buy a home after the market crashed. In short, they’re scared. Also, many people who want to buy are waiting for their credit scores to recover,” said Hoke.
“Fortunately in Las Vegas, we’re seeing signs of improvement. Zillow named us a top 4 market for first-time homebuyers for 2015 because of our low prices and stable market,” said Hoke.
To learn more about the latest Las Vegas real estate market data and to view Las Vegas real estate listings, visit http://www.lasvegashomesbyleslie.com/blog/buying-vs-renting-homes-in-las-vegas.html
About Leslie Hoke
Leslie Hoke is an award-winning Las Vegas Realtor with RE/MAX Premier Realty Group. Leslie has been selling homes in the Las Vegas area for well over a decade after a successful business career with Disney Corporation. Leslie owns and operates the popular Las Vegas real estate website and blog Las Vegas Homes By Leslie.
Ms. Hoke earned RE/MAX’s award for ‘Top Las Vegas Realtor” in 2011, 2012, 2013 and 2014 due to her results-oriented approach to helping her clients meet their real estate needs. Ms. Hoke is a member of the Greater Las Vegas Association of Realtors and National Realtor Association. She is a certified short sale specialist, and has expertise in the areas of condominiums and new construction. Leslie is known for her client customer service, savvy marketing strategies, and track record of success. As a long-time Las Vegas resident, Ms. Hoke brings a wealth of knowledge about the Las Vegas real estate market.
Name: Leslie Hoke
Organization: Las Vegas Homes By Leslie
Source URL: http://www.prreach.com/pr/17203
Release ID: 80187