Monday, February 27, 2012

Paradise Lost

The number of people moving to Nevada from other states has fallen sharply over the past five years. In 2005, nearly half a million (486,253) fortune-seekers from other states moved to Nevada. By 2010, that number had fallen to just 102,677. At the same time, the number of people who packed up and moved out of Nevada for other states grew from 103,482 to 109,409. Do the math, and you can see why 68 percent of existing home sales in Las Vegas are foreclosures, REOs, or short sales.

Source: Census Bureau, Geographic/Migration, State-to-State Migration Flows

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