This article speaks about the US housing market in general. However, in Las Vegas Nevada, rental rates are going up, but not as fast as new home prices.
New homes are the way to go if you are looking to buy. If you are still renting, new home prices continue to rise at a good pace. Example: I sold a KB Home back in December in Mountains Edges for $167,000. To day, the same home is selling for $173,339. That was 2 weeks ago. In the same time frame, I have seen increase of 12% on average in the Southwest, South, The Mesa at Summerlin, Providence, just to name a few. Bottom line, if your renting, your rent is not going up that fast. Something to think about.