LAS VEGAS (KSNV) — California wildfires have displaced thousands of people out of their homes across Los Angeles and many of those affected could soon make a temporary or even permanent move to southern Nevada.
As hundreds of households are faced with uncertainty after losing their homes to the California wildfires, it could be months or even years until those communities are rebuilt.
Las Vegas Real Estate Agent Nathan Fosburg of Realty ONE Group says the housing market across the valley could soon be in high demand.
“As a result of this fire and people needing assistance for living needs or needing to relocate or needing a home, maybe displaced families that really need room and board, I mean they are going to end up needing to go somewhere,” Fosburg said.
As many are left with the burden of having to start over after losing their homes, Fosburg says he and his team are hoping to lend a helping hand to those who have been affected by the wildfires and may be looking to relocate.
“I typically usually offer a fee when it comes to helping people with rentals and stuff like that, but I am waiving that fee including the rest of my team members in order to help these displaced residents that want to come here to the Las Vegas area. We are here, we want to support you. We want to help you and lend them that hand,” Fosburg said.
While there have been some inquiries, Fosburg says his team hasn’t heard of Los Angeles residents moving to southern Nevada in droves just yet, but says there is -plenty of real estate to meet that demand if that were to occur; adding there could be some neighborhoods that may be more desirable than others.
Everybody is ramping up and expecting that we are going to see a huge demand. It all depends on the price point of what that buyer is looking to purchase a house right? You got your Summerlin area, you got your Henderson which are very similar to Pacific Palisades,”
With the local housing market potentially seeing a slightly higher demand, Fosburg says not to expect real estate prices to go up just yet.
“Through this next year, I think home prices are just going to stay stabilized and then as we go further towards the tail end of 2025. If not into 2026 is when I think that home prices will start to increase.
Fosburg and his team, along with the Greater Las Vegas Association of Realtors will be collecting contributions through the end of January to help assist victims affected by the California wildfires.
