LAS VEGAS (KTNV) — This is a map of wildfire burn scars in the past 40 years.
As wildfires continue to devastate Los Angeles, many Las Vegas locals wonder, could this tragedy impact us here in the valley?
I spoke with local experts who said these fires could bring even more competition to our already tight housing market.
The destruction in LA County is pushing California residents to consider relocating.
Kelsey Pyun, a realtor with Huntingtin and Ellis, said the inquiries are already coming in, and urgent calls are being made from two families impacted by the fires— considering making Las Vegas their new home.
"I am expecting more calls. We have already seen such a big influx, but unfortunately, with disasters like this, we see a lot more,” Pyun said.
But, what does that mean for those of us who live here?
Abel Garcia: Do you think what is happening in Southern California will put some pressure on people who are trying to buy a home locally?
Kelsey Pyun: I do think it is going to put a little bit of pressure on our market and on our locals who have been waiting for interest rates to come down.
Pyun believes this could create even more competition for homes here in the valley and we could also see prices go even higher.
Shawn McCoy with UNLV's Lied Center for Real Estate said Californians— particularly from Los Angeles County— have been a driving force behind Nevada's population growth in recent years.
The number 1 county, the highest ranked county for immigrants from California, was LA County, followed by Orange County.
McCoy and his team at UNLV recently conducted a report using data from 2022, finding about 52,000 Californians moved to Nevada. More than 12,000 moved from LA County.
McCoy said that with the fires, we could see that number go up drastically as Southern California residents look for more affordable housing and avoid disasters like this.
Abel Garcia: From that area, how much of the household income do the people who are coming have in comparison to those who live here?
Shawn McCoy: The average income of a California migrant exceeds that of a local home buyer by 93 percent.
McCoy said it also gives them a big advantage in our housing market. For locals, if you're planning to buy a home anytime soon, Pyun said don't think twice.
Abel Garcia: What suggestions, what recommendations, and what do you predict in the next few months?
Kelsey Pyun: Whether it is interest rates or influx of buyers and you are trying to beat out competition, truthfully, when you can afford to buy the houses you want to be in, it is just going to get more expensive, so stay where you are comfortable.
Where to donate
If you are looking to donate to Los Angeles County residents who were impacted by the fires, Channel 13 compiled a list of drives and sites here:
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