Southern Nevada’s commercial real estate industry optimistic about the health of the market today and over the next year.
Nevada’s population is projected to grow 114 percent through 2030. That’s followed by 109 percent in Arizona, 56 percent in Utah, and 37 percent in California. The U.S. population is expected to grow 29 percent through 2030, he said.
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• 86 percent were optimistic about the economy and market and only 1 percent expressed pessimism.
• 62 percent said they have expansion plans for their company and only 2 percent said they would contract.
On the residential front;
Murphy discounts predictions of others and maintains no housing bubble exists in Las Vegas. He points to the median price of existing homes remaining steady. The $285,000 price in October is $1,000 higher than September 2005.
Bottfeld predicted the housing market will be ready for another boom by the end of 2007.