Las Vegas Apartment Rents Back Up After Pandemic; Expected to Further Increase, Reports Say

LAS VEGAS, NV – According to reports, after an initial drop in the early days of the COVID-19 pandemic, Las Vegas apartment rents have remained strong in the second quarter of 2020 while vacancy rates were stabilized due mainly to Nevada Governor Steve Sisolak’s moratorium against residential evictions.

While Vegas rents showed definite signs of rebounding after the initial outbreak, they nonetheless have grown at a slower rate than before COVID-19 hit; local rents increased 2.2 percent during the second quarter, which while positive, nonetheless pales to the 7 percent rent growth year over year, reports say.

The average vacancy rate for local apartments was 6.8 percent during this period, representing a .4 percent increase from 2019 but a decrease of approximately 11 percent during the midst of the mid-2000’s recession.

Las Vegas rents in the second quarter of 2020 have averaged $1,105 per month, which represents a $25 increase from the same period of time in 2019 but only a 5 percent increase from the region’s peak levels before the recession; from 2015 through 2019, rents in Vegas grew at a steady and regular rate.

Governor Sisolak’s moratorium against residential evictions, combined with numerous forms of governmental assistance on the federal, state, and local level, have enabled approximately 90 percent of renters in Nevada to make their monthly rent; however, with the cessation of federal enhanced unemployment benefits at the end of July, along with the end of the moratorium come September, experts expect rental numbers to take a potentially drastic turn in the third and fourth quarters of 2020.

Another factor contributing to vacancy rates is the increased development of apartment complexes prior to the pandemic in order to satisfy the growing demand for housing options in light of Las Vegas’ blooming economy and job market. Currently, Las Vegas has 3,117 apartment units under construction as of the second quarter of 2020, and upon completion, this will also drive up vacancy rates correspondingly.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NY – Gaming industry legend and philanthropist Diana Bennett set a record recently when she was responsible for the highest-priced home sale in Las Vegas in over a year, letting go of her Henderson mansion at 770 Dragon Ridge Drive, Henderson, NV 89012 – for a cool $11.25 million, according to reports.

Bennett, a Northern California businesswoman, co-founder of Paragon Gaming, and inductee into the American Gaming Association’s Hall of Fame, closed on her 17,562 square-foot desert-contemporary-style home last week. The residence features five bedrooms, 10 bathrooms, a gymnasium with a steam shower, a 12-seat movie theater, infinity-edge pool, a pool, a fountain, a massage room, wine cellar, and game room.

Events at the home can accommodate as many as 400 guests, and to that end there are living room-based bars and even paintings that hide televisions behind their facades. The dining room features a design that sees the table surrounded by man-made ponds of water and the room itself is topped off by a large skylight.

The mansion, located in the MacDonald Highlands in Henderson, is also a “green” property, with solar panels on the roof. The buyer has not yet been disclosed. The sale of the Bennett mansion is the largest one on record since July 2019, when Jim Rhodes – well-known Las Vegas developer – sold his home in Spanish Hills for $16 million.

The sale is yet another example of how the COVID-19 pandemic has not had a major negative impact upon the sales of luxury homes in Las Vegas. Real estate in general, while down a bit at first, suffered no major long-term ill effects and has continued to bounce back faster than many experts expected. However, luxury homes in particular have had record sales as of late, with July 2020 seeing the largest amount of them changing hands in the last ten years or more, experts say.

In fact, many are of the opinion that based on current sales figures, 2020 may be on the path to be one of the busiest and most lucrative years on record in terms of luxury home sales.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – The Calida Group – one of the largest developers in Southern Nevada – is planning to open a new apartment complex in the Hughes Center office park in fall of 2020, one that promises a plethora of upscale amenities for tenants, according to reports. Dubbed the Elysian at Hughes Center, the complex – which will begin pre-leasing later this month – is a 368-unit facility with apartments that range in size from 619 square feet to 2,477 square feet. Rent varies from $1,285 to $4,400 per month, according to Calida Group reps.

The complex takes the form of two five-story buildings, each constructed around a six-level parking garage.

Elysian at Hughes Center features a slew of high-class perks for tenants, ranging from a 5,065 square-foot indoor and outdoor “sky lounge” providing panoramic views of the Las Vegas Strip, a clubhouse that contains exercise facilities, tanning rooms, a golf simulator, and a wine-tasking lounge, as well as landscaped resort-style pool, spa, and recreation decks.

The apartment complex is located on a 6-acre site one mile east of the Las Vegas Strip, at the northern edge of the 68-acre Hughes Center. Calida purchased the property for $15.9 million in 2017 from The Blackstone Group, which also serves as the Hughes Center landlord. Ground was broken on construction for Elysian at Hughes Center on January of 2019.

Calida owner Eric Cohen has expressed great excitement about the Elysian project, noting that its home at Hughes Center – an office park with thousands of workers and situated within walking distance of dozens of restaurants – makes it an “amazing location” and a great alternative to the high-rises that are on the nearby Strip.

The projected cost for the project is over $100 million, reports say.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Representatives of the Las Vegas hotel industry sent an appeal to Congress this week, asking for financial assistance and commercial debt relief in order to help ward off an “unprecedented wave” of foreclosures due to financial issues born out of the COVID-19 pandemic, according to reports.  

In July, reports indicate that approximately one-fourth of Las Vegas hotels were a month late – or more – on their mortgage loan payments, which represents the highest level of financial distress to ever befall the city’s hospitality industry. Compare that figure to the fourth quarter of 2019, when just over one percent of hotels were in that same predicament, said analysis firm Trepp.

On Tuesday, over 4,000 hotel owners – including 20 from Nevada – signed a letter that was sent to Congress, calling for passage of the Helping Open Properties Endeavor (HOPE) Act, which was drafted in-part to help protect owners of commercial real estate from foreclosures as a result of fallout from the COVID-19 pandemic. The bill specifically targets businesses that hold commercial mortgage-backed securities loans.

Hotels across the country have suffered during the pandemic, as travel has slowed to a standstill in order to help curb the spread of the disease; however, Las Vegas in particular has suffered more than most due to its reliance on tourism, and even with Nevada in the process of opening its economy once again, the economic damage has been done. And with tourism levels not yet returning to normal, it’s clear that outside help is sorely needed if many of these hotels are to survive.

Casino resorts on the Las Vegas Strip generate the majority of their revenue from gambling activities; however, smaller hotels that do not have gambling on premises would benefit the most from the passage of the HOPE Act. We will be sure to report here if Congress responds to the hotel industry letter.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – According to reports, despite an eviction moratorium and numerous sources of governmental financial assistance being made to local residents, September – when the moratorium is due to expire – could see a record-number of people in Las Vegas removed from their homes and apartments, as months of unpaid rent will finally take their toll.

Due to the current financial crisis and widespread unemployment that is still hitting Southern Nevada due to the COVID-19 pandemic – a crisis that the region is recovering from, but not fast enough – the high number of renters that call Vegas home are facing a very real possibility that they may be homeless in the near future, especially with the $600 federal unemployment benefits having expired at the end of July.

Reports indicate that roughly ten percent of the population of Clark County – approximately 249,700 people – may be out on the streets when the eviction freeze ends. This is an unfortunate situation no matter how you look at it, and one that is unprecedented in the modern era.

Of course, one has to look at this from the perspective of landlords as well, considering the fact that a tenant that is unable to pay rent – through no fault of their own – translates to monthly income that the landlord is no longer receiving. And things just got harder for them, as a recent new state law now gives courts the ability to delay an eviction for 30 days in an attempt to mediate the situation between the landlord and their tenant.

While this new law represents a stay of execution for tenants, it also represents more frustration for landlords, many of whom have felt unfairly treated throughout the pandemic by essentially being forced to house individuals that are unable to – or simply refuse to, in some instances – pay them.

Nationwide, the COVID-19 pandemic has led to high levels of unemployment, and evictions across the country are looming for as many as 30 to 40 million people in the next few months if things do not improve. However, experts are reporting that Las Vegas could be one of the harder-hit areas due to its reliance on tourism, which has been greatly curtailed by the pandemic.

Currently, Las Vegas’ unemployment rate is hovering at about 18 percent, down from a high of 34 percent at the height of the pandemic; in February, prior to COVID-19, it was just 3.9 percent.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – With the COVID-19 pandemic remaking the concept of work as we know it, scores of people are finding themselves transplanted from their familiar office settings and telecommuting from their own homes thanks to social distancing guidelines designed to curb the spread of the disease. And while there are advantages to working from home, there are also stresses that naturally come with the idea of taking your own personal abode and making it your place of business. If home is work and work is home, what’s a person to do to?

Well, go to Las Vegas, it seems.

MGM Resorts has launched a new “Work from  Las Vegas” travel package, aimed at professionals in the business world who are tired of working while stuck in their homes. The package includes discounts on airfare, lodging, and even includes a dedicated concierge – dubbed an “executive assistant” by MGM – to help them with their workload, including handling reservations and scheduling.

The program – dubbed “Viva Las Office” and heralded by MGM Resorts as “the ultimate home-away-from-the-home office experience” – is yet another innovation that Las Vegas is breaking out in an attempt to make up for the losses in revenue due to the drop in tourism brought about by the pandemic. The program offers stays ranging from 3-to-5 nights at costs ranging from $100 to $350 per night, not including any additional resort fees that may be incurred.

MGM Resorts also offers semiprivate jet service with discounts of $75, $100 or $125 off round-trip tickets. Packages include varying tiers of prices and service – including “The Associate,” “The Manager,” and “The Executive” –  with the overall goal being a productive and focused work experience, as well as the opportunity to enjoy the sights and sounds of Vegas during the off-hours.

The “Viva Las Office” program is currently limited to Bellagio and ARIA.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Local developer Edward Homes recently broke ground on a new housing project located in Las Vegas’ 1,200-acre Providence community, the last new-home development slated to be constructed at that location. The new housing tract, called Brownstones at Providence, is planned to add 30 new townhouses on a 3-acre plot of land, and is expected to start framing the new units in approximately a month. The project, the last new addition to the Providence community according to reports, has already had 10 signed sales contracts by buyers of the townhouses.

Providence is a master-planned community located in the northwest valley of Southern Nevada near the 215 Beltway and Hualapai Way. Its origins can be traced back prior to the mid-2000’s recession, a period of time where developers consistently bought up large plots of land to construct housing developments, which was a very profitable venture before the recession hit. Developed by the Focus Property Group, Providence first began to sell homes in the community in 2006, at the height of the region’s real estate boom.

Edward Homes noted that the low supply of homes on the Las Vegas real estate market was the driving force behind the decision to proceed with the construction of Brownstones at Providence, citing the strong demand for new housing despite the impact of the ongoing COVID-19 pandemic.

June 2020 saw approximately 1,230 sales contracts signed with homebuilders in Southern Nevada, the highest amount since February. Meanwhile, pre-existing home sales in July numbered over 4,000, the largest amount of homes sold in Las Vegas since 2017.

The fact that buyers are able to lock in very low interest rates on loans these days – as low as 3 percent – has also helped to sustain the demand for housing, regardless of the financial difficulties that many residents are experiencing.

Construction for the Brownstones at Providence project is expected to be completed by the end of summer 2021.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – According to recent reports, Las Vegas’ ongoing real estate rebound from COVID-19 has hit yet another milestone, with the industry setting an all-new record in the month of July 2020 and cementing it as one of the more notable aspects of the region’s recovering economy, damaged as it has been by the pandemic.

Realtors have revealed that July saw the largest amount of homes sold in Las Vegas since 2017, with over 4,000 pre-existing residences changing hands. That is indeed impressive, especially given how far the market had come since the mid-2000s recession, and how far it had dropped again thanks to COVID.

Local realtors have been quoted as saying that the local housing market is currently “on fire,” citing the non-stop demand coupled with historically low interest rates – some as low as 3 or even 2.5 percent – and a limited supply as the contributing factors to local real estate managing to weather the storm and come back faster than estimated after COVID played havoc with Nevada’s economy. Interest rates are expected to remain low for the remainder of 2020, reports say.

Therefore, individuals and families that have managed to remain employed throughout the pandemic – or who had adequate financial resources already in place – have been taking advantage of the opportunities presented to purchase homes in large numbers.

Also, the median single-family Las Vegas home price in July was $330,000, an increase of approximately 9 percent from the same period last year. Again, this is despite the current pandemic, which is still making its presence felt in Nevada and across the country.

In addition, ongoing forbearance and moratorium decrees that have been enabling people to remain in their homes despite the financial difficulties they have been experiencing have resulted in Las Vegas’ lowest amount of foreclosures and short sales ever, preventing another mid-2000’s-style catastrophe to strike the Southern Nevada housing marketplace. Federal homeowner and renter assistance has also played a part, reports say.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Many landlords jump at the idea of spending around $550 for a home warranty that covers their property for repairs and replacement costs over a 12 month period. All that is required is an up front fee of usually $75 and the home warranty will send out a licensed contractor to assess the issue. If it was just that simple, I’m sure everyone would want a home warranty to ensure their home is protected against unexpected repair costs.

The reality is, Home Warranties are not all they’re cracked up to be. What they don’t tell you when they are trying to sell you their products is that many items aren’t covered so unless you ask specifically what is not covered before you sign up, they will tell you after the fact that it’s listed in the fine print when you have a repair issue that isn’t covered. What they also don’t tell you is that it can take up to 48 hours for their preferred vendors to even get assigned the work order. How would you like to have that conversation with your tenant, I’m sorry but the property has a home warranty so we have to use the vendor that is assigned but they can’t get to your home for 48 hours; that’s not going to go over well with the tenant.

Episode 140: Home Warranty Dangers by: http://www.evicttv.com (An excellent representation of issues with Home Warranty services.

Not every Home Warranty Company is awful, but I would definitely say to steer clear of Choice Home Warranty. Here is an example of a recent claim we filed with Choice Home Warranty for an A/C issue.

• We placed a claim for our Landlord’s property on Saturday 6/27/2020  for the upstairs a/c unit, my property manager was on hold for almost an hour waiting to place a claim before they finally were able to speak with a representative.

• We called the vendor they assigned on Monday since the tenants hadn’t heard from anyone yet to set up an appointment. When we spoke to the vendor, they said they never received a work order from Choice Home Warranty. So after sitting on hold for 1.5 hours we got through and Choice Home Warranty resent the work order. 

• On 6/30/2020, their vendor arrived at 3 pm, completed a hard start on the a/c unit and left. The a/c stopped working again an hour later. We tried to place a recall on 6/30/2020 with Choice Home Warranty around 4pm and after 2 hours of waiting on hold and calls being dropped we opted for the call back option. My property manager waited around with her work cell phone until 10pm but never received a call back. 

• On 7/1/2020 the property manager called the vendor to see if they could go back and they said we have to call Choice Home Warranty for a recall. My property manager called Choice Home Warranty and after waiting a total of 3 hours and 4 dropped calls later she finally got through and they placed a recall. My property manager called the vendor back to tell them a recall has been placed and now the vendor stated they don’t need to come back but they need Choice Home Warranty to approve a new compressor which will take approx. 2 weeks with shipping. My property manager calls Choice Home Warranty back and they say they are awaiting this information from the vendor. 

• On 7/2/2020 my property manager calls Choice Home Warranty for an update, they say it’s been approved and it will be in within 2-3 weeks.
• On 7/12/2020 the vendor calls my property manager and states that they received a condensing unit but it wont work with the old evaporator coils so they need an additional $4000.

• On 7/12/2020 my property manager relayed this information to the landlords who subsequently called Choice Home Warranty for further explanation.

• On 7/13/2020 a Choice Home Warranty case manager emails the landlord  a new condenser and “indoor unit” will be $2,875, no further explanation was given as to why or what was wrong. Over the next 10 days, my property manager and the landlord emailed, called and left voicemails for the case manager requesting further explanation but never received a response back from the case manager. When my property manager and landlord requested someone else to assist them, they were advised by other representatives from Choice Home Warranty that we have to speak with the assigned case manager.

• On 7/24/2020 my property manager contacted the vendor to see if they had any further update from Choice Home Warranty and they advised that they just received an approval the day before for a new evaporator coil along with the condensing unit for $2,875.

• On 7/24/2020 the landlord paid the $2,875.

• On 7/25/2020 the vendor ordered the evaporator coils.

• On 8/4/2020 the new system was installed.

Luckily, this property had (2) a/c units and only one was not working. We were able to have a portable a/c unit installed to help keep the property cooled while the tenant waited a little over 5 weeks for their a/c unit to be repaired. In addition to the $2,875 the landlord had to pay for the cost of the a/c repair, the landlord had to pay $25 a day for the portable a/c unit and give the tenant a credit towards their power bill as the portable a/c unit was a big draw on power and caused their power bill to go up significantly.

If you are a landlord and you decide a home warranty is worth the investment, be sure to research each and every Home Warranty Company as well as each and every covered item before purchasing your warranty so that you can hopefully avoid the issues that we have experienced with Choice Home Warranty.

Although Shelter Realty does not generally recommend a landlord to purchase a home warranty, we do have several landlords that have home warranties in place. If you would like any recommendations on what Home Warranties we do recommend, give us a call at 702.376.7379 and ask for Shelly, she would be glad to discuss Home Warranties with you.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Plans for a new apartment complex in Henderson were recently announced by a Las Vegas-based developer to be constructed on a 19-acre plot of land at the southeast corner of Galleria Drive and Boulder Highway, according to reports.

Tru Development Company noted that the complex, dubbed The Apex at Galleria (stylized as “theAPEX @galleria”), will be a 336-unit apartment complex with and 3.8 acres of retail development available for sale, ground lease, or build to suit as well.

Tru is teaming up with MultiGreen Properties to bring the project to life, according to Tim Deters, President and CEO of TRU Development.

“TRU Development Company is excited to be partnering with MultiGreen Properties on our first project collaboration in southern Nevada,” he said. “We are honored to have the opportunity to expand the multifamily offerings in the Las Vegas Valley and create a community centered around technology, sustainability, and wellness. We look forward to bringing our vision to fruition and welcoming residents in 2021.”

The apartments at The Apex at Galleria will be available for lease in March of 2021, and heralds what the developer is calling a series of “Apex” branded communities to be built throughout the state of Nevada, according to Randy Norton, Founder and Chairman of the Board at MultiGreen.

“We are excited to be working with TRU in the State of Nevada as we continue to grow and design theAPEX brand,” he said. “Our goal is to build thousands of newly constructed APEX- branded units together, all of which will be attainable, sustainable, and tech-enabled residences.”

Tru most recently is responsible for the construction of the Kaktus Life rental project off Cactus Avenue and Interstate 15, a 4-story complex. It also has plans for a southwest valley apartment building in the works, adjacent to the Meadows mall. Ground on Apex at Galleria is expected to be broken at some point in the fourth quarter of 2020.

Editors note: The photo used in this story, a rendering of the new apartment complex in Henderson, is credited to TRU Development, Nevada Business Magazine, Nevada Business Journal and Press Release Wire.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – It was recently announced that construction of the long-awaited Allegiant Stadium, new home of the NFL Las Vegas Raiders, will be ready for start of the team’s 2020 season on September 21, despite numerous hurdles and challenges thrown in its path thanks to the ongoing COVID-19 pandemic. However, that good news comes with one caveat- according to the team’s management; all of the Raiders’ games played for their inaugural season at Allegiant will be done so without the benefit of fans, who have been banned from the venue due to health concerns.

The Raiders announced that fans would not be allowed in the stadium for the 2020 season in a statement released this week to season ticket holders, following suit with many other professional sporting teams that are taking similar precautions to help curb the spread of COVID-19, the disease caused by the coronavirus that has claimed over 160,000 lives in the U.S. to date.

“There is nothing more important to the Raider Organization than the health and safety of our players, coaches, staff, stadium workers and fans,” the statement said. “After intensive consultation with healthcare officials and state and community leaders, we have made the difficult decision to play the Las Vegas Raiders 2020 inaugural season at Allegiant Stadium without fans in attendance. This decision is based on our commitment to protect the health of our fans and the entire community in response to the coronavirus pandemic affecting us all.”

Reduced seating was considered but ultimately ruled out by the team; season ticket holders have the option of either receiving full refunds or applying their payments to the 2021 season instead.

Allegiant Stadium, a $2 billion, 65,000-seat complex built on a 63-acre plot of land located just west of Interstate 15, officially broke ground in November of 2017 and faced several hurdles in its development – thanks in no small part to the pandemic – while making headway towards its 2020 goal of completion.

The Raiders will play their first game at Allegiant on September 21 when they host the New Orleans Saints. A planned Garth Brooks concert for August 22 – the first-ever event planned for the stadium – was recently re-scheduled to February 27.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – In a recent report, the lengths that Southern Nevada real estate agents have gone to in order to reinvent themselves amid the challenges presented by the ongoing COVID-19 pandemic were laid out, and it paints a picture of an industry that has not only managed to survive adversity, but actually thrive despite it.

The pandemic initially caused issues for the local real estate market due to mandatory stay-at –home orders and business closures to help contain the spread of the coronavirus, which causes the respiratory disease known as COVID-19. While real estate was considered an “essential business” and thus was allowed to continue to operate, it was nonetheless hamstrung by high unemployment levels and the resulting extreme financial uncertainty in the region, not to mention restrictions caused by social distancing guidelines.

However, the real estate industry has bounced back amid the chaos by adapting to conditions; many agents, according to the interview, have moved everything to a “virtual platform,” setting up 3D online tours of properties in their inventory and producing far greater amounts of video content highlighting the homes and rental units on offer.

In addition, Zoom – a popular video conferencing app – was highly utilized to conduct open houses, a move that may have actually changed the way real estate business is conducted going forward, even after the pandemic is eventually a thing of the past. After all, these steps can greatly decrease the amount of time a sale takes, and it allows people who live in other areas to check out a property without having to travel; instead, they can get all the information they need about their potential new home right in the comfort of their current abode.

That said, Las Vegas has seen a bump in the number of real estate buyers from both out of town and out of state throughout the course of the pandemic, particularly from California, mainly due to the affordable lifestyle in Nevada when compared to their home state.

As for what the future could potentially bring – especially now that Nevada is slowly but surely coming out of lockdown – experts believe that the real estate market will continue its impressive rebound, although that enthusiasm is tempered by the fact that is a so-called “second wave” of the pandemic hits in the fall, the economic damage could be just as bad as the first time… if not worse.

However, the current low interest rates in the market have encouraged many U.S. residents to purchase homes, with noted mortgage loan company Freddie Mac noting that current purchase demand activity has actually gone up 20 percent from the same time period in 2019, placing it at its highest level since 2009.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.