Though the bigger questions is “are you an investor?” For those purchasers who live in the southwestern United States and see real estate as a sound choice as an investment, these two markets have attracted buyers a plenty.
Phoenix or Las Vegas Real Estate?
There are several questions that you want to ask yourself including, do you need a property management company, how much do you want to spend on a property, and how much are you going to get in rent, and basically what will be the return on your investment?
Factors when considering these locations include items such as: Las Vegas is more than just the Strip, while the Phoenix Valley has established a strong economic infrastructure by lieu of going through (2) severely depressed housing markets. This gave them the ability to foresee the cyclically nature of each market and place a premium on attracting business to their town.
Though it can be said that Las Vegas has a larger influx of annual visitors and new citizens each year, Phoenix is a market that is (3) times the size of las vegas, and therefore may provide a larger market potential.
Whichever area you choose, finding a real estate agent that specializes in the specific part of town you are looking to buy in as well as finding a competent property management company will give you the building blocks for success.