In the wake of the housing market collapse, Las Vegas experienced one of the highest rates of foreclosure in the country. However, now that conditions appear to be stabilizing, experts say that the city's distressed property inventory could be thinning.
Home price in Las Vegas fell by roughly 30 percent in recent years, which has made the prospect of purchasing a home in the city much more affordable to entry-level buyers. At the housing market's peak, many of these individuals found themselves forced to wait on the sidelines as they waited for their personal finances to improve.
During the course of 2011, the average price of a foreclosure in the city was $116,000, while a new home went for an estimated $200,000, indicating the clear bargain that is attainable through purchasing a distressed property.
Buying a home for sale in Las Vegas as real estate conditions improve could be a profitable investment as the area stabilizes. Should prices start to appreciate in the future, this investment could net a profitable return.
