Los Angeles and San Jose residents continue to drive the majority of interest in relocating and purchasing homes in the Las Vegas Valley, according to a new report.
The Los Angeles-Long Beach-Anaheim metro made up 23.7 percent of all the views of Las Vegas Valley homes on Realtor.com from metros outside the valley in the first quarter of this year, according to a new report from the online real estate marketplace. Next was the San Jose-Sunnyvale-Santa Clara metro, which accounted for 8.5 percent of all home searches.
Here are where searches for Las Vegas Valley homes are coming from on Realtor.com: 57 percent are views from other states, 38 percent are from within the metro, 2.9 percent are international and 1 percent are from within Nevada but outside the valley.
“(Los Angeles and San Jose) combined generate more demand than the next eight metros combined,” Anthony Smith, a senior economist for Realtor.com said of the searches for the Las Vegas Valley in an email to the Las Vegas Review-Journal.
Regarding where people within the valley are searching for homes, the Phoenix-Mesa-Chandler metro makes up the biggest chunk at 6.1 percent of all views. This is followed by the Riverside-San Bernardino-Ontario metro in California at 4.3 percent, and then Tucson, Arizona at 4.2 percent.
“Outbound demand from Las Vegas is far more dispersed across destinations than the concentrated inflow from Southern California and the Bay Area,” added Smith.
In terms of the overall breakdown of home searches from people within the valley, 54.9 percent are outside Nevada, 41.2 percent are within the valley and 3.8 percent are within Nevada but outside the valley.
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.
