Housing bubble that is being much talked about cannot be seen in Las Vegas real estate market because of its high job growth and increasing number of visitors each year. The median price of new homes has shown an increase of 6.7% since last year while the existing homes showed an increase of 14%. The median new home price in September was $297,999 and that of the existing home was $285,000. Las Vegas is still considered as the first choice by the people looking for good deal on homes. The highland price along the strip is due to the billion dollar developments like the South Coast casino. The mixed-use development along the Beltway the Durango Drive will also be as successful as the Strip. The development is moving back towards the core of the downtown where the density is already high. New home permits has fallen down by 1000, and has reached to 1,121 in September. Investor buyers will think before taking the plunge due the increase in mortgages rates.

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