Why buy in Las Vegas?!

Simple.  Supply and demand.
 
Las Vegas is and has consistently been the fastest growing metropolitan area in the Unites States, currently adding 5,000 - 7000 net residents per month  ( See graph below )
 
 http://cber.unlv.edu/pop.html
 
Also, greater Las Vegas has a limited land supply as the metro area is geographically in a valley approximately 30 miles long x 20 miles wide, surrounded by either unsuitable land due to terrain, or land located in ecological preserves or land that is federally held.   That means that there is a limited land supply and great demand.  With billions in new construction currently underway, a another wave of growth will hit Las Vegas. Combine that with a state that has no income tax and a friendly business climate, and future growth will likely continue.  Therefore its a simple equation of limited supply and great demand.
 
Also See:
 
http://cber.unlv.edu/stats.html
 
http://cber.unlv.edu/county.html

For a short presentation with detailed statistics click the link below.

Las Vegas Five Year Outlook

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