The housing market in Las Vegas is crazy. There is more demand than inventory. The same thing happened in the early 2000's. We bought a 2000 sq ft house in a new development for $160,000 in 2000 and sold it in 2004 for $335,000. Took the profit and moved to Pahrump. Paid $35k for an acre and built a 2700 sq ft house for $229,000. Our house is now worth about $400,000. The average house price in Vegas is $450,000 and in Pahrump a staggering $350,000. In Vegas the builders are putting houses up as mast as the can. Apartment complexes are going up as fast as well. Rents are skyrocketing. The lot sizes have shrunk dramatically. There are now 3 story houses popping up like mushrooms. They are so close together you can touch 2 houses at the same time. Traffic has gotten worse . In 1991 when we moved to Vegas there were 200,000 people in the valley. Now there is more than 2 million. At one point around 2003 there were 5k people moving here a month. The casinos were building new properties and hiring hundreds. When the bubble burst in 2007/8 the casinos were shedding hundreds a day. I worked for The Mirage's golf course Shadow Creek for 9 years. MGM Mirage was letting 100 people a day go at all 13 properties. I was one of them. The golf industry just about ceased to exist. As long as people keep moving here from California it's going to stay the same as it is now. California is a dirty word here. As soon as there is more inventory than buyers the bubble will burst and a lot of people will get hurt. I have friends in Eugene Or. and they tell me it is the same up there. I have no plans to sell or to move anywhere else. I like having no neighbors close.