With so many foreclosures in the Las Vegas real estate market and the current state of the economy, many experts have been weighing in about the fate of the market. Last month the Las Vegas high rise & condominium association discussed CityCenter and its importance to the city. One member went so far as to state that CityCenter will be vital in gauging outsider confidence in Las Vegas.
Others didn’t think that it would be a factor at all, given that the project is due to be completed towards the end of next year. Accordingly to CityCenter officials, sales have been robust. Some are looking at the market as a huge opportunity to snap up properties at bargain prices. Personally I think that condo buyers buying now will be happy they did in the next several years. Despite the downturn of visitors, people are still coming to Las Vegas and more importantly, people are still moving here to work and live. In the long run, that will lead to lower inventory levels and higher prices.
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