"Return of the housing bubble? Not in Las Vegas"

A new report from Redfin ranked Las Vegas second least vulnerable to a real estate bubble, out of 15 major American cities. The city's real estate market has been heating up in the past six months with rising prices and multiple bids per listing. The report from Redfin indicates that Las Vegas is poised to maintain its strength in the foreseeable future.

A primary indicator they use is the home price to income growth ratio. Many other cities are seeing incomes rising faster than home prices leading to inflated real estate prices. Las Vegas has a much lower ratio than the national average, signalling stability.

Other telltale signs of a real estate bubble, freely available credit and large mortgages, are not present in Las Vegas. Obtaining a mortgage in Nevada is difficult and currently almost half of all houses are bought with cash. "The important factors that create a true bubble are missing," Redfin says.

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