Declining Home Prices Have Prospectors Returning to Las Vegas

Vegas is seeing a spike of people retiring there due to low home prices.

The Las Vegas Review-Journal recently reported that declining Las Vegas home prices have some investors looking for bargains. As prices have dropped 25 percent in the last year and foreclosed properties have flooded the market, a growing, new breed of investors are hitting the streets trying to snatch up deals.

Many of these new waves of investors are people from other countries looking to take advantage of the weak dollar. The mentality among these investors seems to be that there is a growing sense of urgency to buy while prices are low. Nearly 65 percent of all homes sold in the Las Vegas area last month was a short sale or foreclosed property.

This continual influx of priced-to-sell inventory has been eroding real estate values across the Las Vegas area for over two years. Over half of the homes sold are vacant—a clear sign that would-be investors are running out of time and options. With many home buyers in over their heads and owing more on a home than it is actually worth, the only option is foreclosure.

The bargain prices have led to an increase in buyer traffic. Throughout the summer, the number of people looking for homes in Las Vegas increased—mostly in lower-priced homes. In some cases, homes have been selling at or above their asking prices. Some sellers even report instances of bidding wars among buyers.

Cause for Concern for Retirees

While the increasing number of potential buyers offers a glimmer of hope for homeowners in Las Vegas, the news is not all positive. As a retirement hot spot, Las Vegas is home to a huge number of retirees who invested in their new home at the wrong time and will likely not see their housing value return to the price they paid for a number of years. The fact that some buyers are now considering Las Vegas as a viable market to buy is encouraging for these homeowners.

But the thought that many of the buyers are investors looking for deals is cause for concern. The last thing the Las Vegas real estate market (or any real estate market) needs right now is another round of investors creating artificial demand and sending the country on another rollercoaster ride of housing values.

Can you spot the $207,744 difference between these identical homes?

Financing is the difference!

Get the details in The 62+ Loan Homebuyers Guide.

55places Mortgage is a joint venture between Mutual of Omaha Mortgage and
Details here.

Share this post:

We're here to help! (800) 928-2055

Call us to speak with a customer service representative.

Subscribe to Our Newsletter

Get Weekly Updates

I agree that 55places and its affiliates, partner providers or agents may call, text, or email me about my inquiry, which may be made with automated means. I understand that my consent is not a prerequisite for buying a property. I may revoke my consent at any time by contacting Message/data rates may apply. I also agree to’s Privacy Policy and Terms of Use.

The Best Places to Snowbird in 2021

We’ve gathered 25 of the best places for snowbirds, including cities in Florida, Arizona, California, Texas, South Carolina, and Nevada. For each entry, we’ve also provided a list of recommended 55+ communities in the area. If you’re ready to find your own winter retreat this season, here are some of the best places to consider.

Interest Rate vs. APR (And Other Mortgage Questions)

The mortgage process is pretty complicated. Even if you’ve gone through it before, it’s easy to get tripped up with all the steps, documentation, and financial jargon of it all. Are you planning on applying for a mortgage soon? Before diving straight in, here are some answers to commonly asked mortgage questions.

Two 55+ active adults relaxing in lounge chairs by the beach.

How to Decide Which State to Retire In

It’s common for active adults to relocate to a new state for retirement, and with thousands of 55+ communities across the country, it’s difficult to find the perfect place without narrowing the search first by state. The best guideline is to move to a state that can provide the lifestyle you’re looking for.

An asthmatic 55+ woman reaching for an inhaler.

The Best Places to Retire If You Have Asthma

Climate, geography, and access to health care providers are all key considerations for those with a chronic health condition. Let’s explore some of the best places to retire if you have asthma and what factors may be particularly important to you in a retirement destination.

Happy senior couple relaxes while fishing together by the lake in their 55+ community.

55+ Communities for Lake Lovers: Discover the Top 5 Destinations

Boating, fishing, swimming, and other water sports are popular pastimes for many active adults. While these activities are frequently found in coastal areas, water-loving retirees can enjoy living inland when they choose a community that offers access to a lake!

A mature woman explores an art gallery with her granddaughter in one of her favorite retirement cities.

The 4 Best Places to Retire if You Love Art

Retirement is your chance to devote yourself to the pastimes you love! If you love art, a handful of places across the U.S. will suit you best. Today, the team at is here to explore communities all over the nation that you’re sure to love.

Blueprints and tools on a desk as home builders plan a construction site.

The Top Active Adult Home Builders

Active adults at the start of their home search often come across multiple communities by the same developers. That’s because the most well-known 55+ community developers in the country have crafted hundreds of luxury communities in many retirement destinations across the nation.

About 55places

We’re changing the way people 55 and older are searching for their perfect next place. With a national network of hand-selected real estate experts, plus comprehensive information, unbiased content, and on-the-go insight about thousands of communities across the country, we’re a trusted resource paving the way from here to home. Whether you’re interested in a low-maintenance single-level residence, an active lifestyle or age-qualified community, an intimate enclave, or anything in between, we can help you make your next move the best one yet.

Scroll to Top