Even though Las Vegas has so much going for it, the desert mecca was also one of the hardest hit cities when the real estate bubble burst.  All the while, the continuously strong economy – stoked by a booming tourist industry along with becoming an emerging tech industry hotspot – has prospered enormously.

So what appears to be happing now?  Well the numbers aren’t unanimously clear, but a trend does appear to be taking shape.  Las Vegas real estate looks to be on the rebound.

According to Vegas expert Realtor Diann Tonneson, who is ranked among the top ten for total homes sold in the nation, Las Vegas has been posting some pretty fascinating stats lately.  Check out these stats from this Fall 2007 update post covering Las Vegas Home Sales News: 

• “A one day sales record for percentage of units sold was set in Las Vegas earlier this summer when 229 of the 296 available units were put under contract at Verge, a downtown mid rise development.”
•  “During the past two years new construction permits are down by almost 30% and new home inventory has finally stabilized.”
•  “7,000 people per month are still moving in to Las Vegas attracted by employment opportunities.”
•  “The construction industry alone is expected to grow by about 10,000 jobs in 2007.”
•  Even though “supply is catching up with current demand, it is not catching up with the backlog from previous years.”

Of course, there are many who would say these facts might be true, but overly optimistic of the big picture situation in Vegas at that.  Myself, I think they paint an accurate portrayal of the market as it stands now, as well as how it looks to fare over the next few years.  Plus, any doubters might consider when the last time Vegas did not defy the odds might have been.

Looking past the unfounded predictions and doom and gloom media regarding the Las Vegas real estate market, we might even conclude that Las Vegas isn’t only on the rebound now, but has really been slowly moving forward all the while.  At least, that’s where I’ll be placing my bets!