It can also be cold and windy.
If you are considering buying soon, carefully look at neighborhoods since there are so many vacant bank owned houses. You don't want to buy in a depressed neighborhood, but on second thought I don't know how you'd avoid that either. Just carefully look at all the details, if there is a HOA, look at the restrictions and finances.

Thanks. Any specific areas we should focus our search on?

Check schools, medical facilities. I use to live 3 hours out of there, never would I choose to live there. Where are you now and remember every state has good and bad areas.

How does your Soph in HS feel about moving at this age? I can understand you wanting to buy now--housing cost is low. But, really? Moving your soph? Do you move a lot (military or something--so it wouldn't be any big deal)? If not, I might consider buying now to take advantage of RE "deals", but not move my soph. Stay put until he/she is finished with HS, then you can move where you want/where is good for retirees.

Our Soph would welcome the move. We have done research on las vegas market; can get homes for good price, but there is a LOT of inventory and I dont know where to focus search. Looking for good HS and proximity to university. Anyone out there that lives in lv?