Las Vegas Homes Bad Bet Until 2032 – AOL

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Updated July 14, 2016 at 9:12 PM
las vegas real estate
las vegas real estate

If you’re laying odds on when the Las Vegas real estate market will recover, prepare to wait a long time to collect. According to a recent report, it will be decades before Las Vegas home prices rebound — the year 2032 to be exact, says Celia Chen, housing market analyst for Moody’s Analytics.

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And Las Vegas isn’t even in the worst shape when it comes to depressed housing prices. Foreclosure-plagued cities like Phoenix and Naples, Fla., will take even longer to see anything like pre-recession home prices, Moody’s predicts. In Phoenix, for example, the number of listings with price cuts in December topped 40 percent — an indication that any rebound will take months, if not years, to be felt.

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