- Las Vegas (Clark County Economic Data)
- Las Vegas Market Condition Report...
- Las Vegas Valley office Vacancies Rise in forth Quarter
Las Vegas (Clark County Economic Data)
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| Indicator | Date | Latest Period | Previous Period | Year Ago | Change Month Ago | Change Year Ago |
| New Residents (Drivers License Count) | December-07 | 6,292 | 5,626 | 5,820 | 11.8% | 8.1% |
| Active Residential Electric Meter Count | December-07 | 724,950 | 725,218 | 710,836 | 0.0% | 2.0% |
| Total Employment | December-07 | 944,800 | 944,500 | 937,100 | 0.0% | 0.8% |
| Unemployment Rate | December-07 | 5.6% | 5.3% | 4.2% | 5.7% | 33.3% |
| New Home Sales* | December-07 | 1,235 | 1,389 | 2,384 | -11.1% | -48.2% |
| New Home Permits | December-07 | 220 | 326 | 2,089 | -32.5% | -89.5% |
| Existing Home Sales | December-07 | 1,339 | 1,407 | 2,678 | -4.8% | -50.0% |
| Median Price of a New Home* | December-07 | $311,924 | $277,558 | $330,094 | 12.4% | -5.5% |
| Median Price of an Existing Home | December-07 | $250,000 | $253,900 | $285,000 | -1.5% | -12.3% |
| Single Family Building Units Permitted | December-07 | 235 | 305 | 1,118 | -23.0% | -79.0% |
| Multi Family Building Units Permitted | December-07 | 529 | 2,106 | 992 | -74.9% | -46.7% |
| Residential Building Permit Valuation | December-07 | $151,027,236 | $406,759,736 | $250,897,679 | -62.9% | -39.8% |
| Commercial Building Permits | December-07 | 49 | 109 | 91 | -55.0% | -46.2% |
| Commercial Building Permit Valuation | December-07 | $58,100,156 | $349,830,365 | $211,464,709 | -83.4% | -72.5% |
| Apartment Rental Rate | 4th Qtr 2007 | $876 | $868 | $850 | 1.0% | 3.1% |
| Apartment Vacancy Rate | 4th Qtr 2007 | 7.7% | 7.1% | 6.0% | 8.2% | 29.4% |
| Taxable Sales | November-07 | $2,849,510,994 | $2,978,696,338 | $2,779,541,641 | -4.3% | 2.5% |
| Clark County Taxable Gasoline Sales (Gallons) | November-07 | 64,526,762 | 67,975,802 | 65,346,684 | -5.1% | -1.3% |
| McCarran Total Airline Passengers | December-07 | 3,682,689 | 3,793,482 | 3,806,076 | -2.9% | -3.2% |
| Gaming Revenue | December-07 | $945,956,315 | $828,725,345 | $908,691,310 | 14.1% | 4.1% |
| Visitor Volume (all of Clark County) | December-07 | 3,400,776 | 3,490,536 | 3,379,775 | -2.6% | 0.6% |
| Room Inventory (Las Vegas Metro) | December-07 | 132,947 | 133,690 | 132,605 | -0.6% | 0.3% |
| Convention Attendance (Las Vegas Metro) | December-07 | 129,664 | 602,605 | 161,809 | -78.5% | -19.9% |
| Hotel/Motel Occupancy (Las Vegas Metro) | December-07 | 83.2% | 86.9% | 81.3% | -4.3% | 2.3% |
- *Excludes High/Mid Rise Condominiums, Apartment Conversions, and Condotel Units
Las Vegas Market Condition Report...
In Jan. 2008 there has been a total of 19,777 Single family homes and 5,320 condos for Sale in the Greater Las Vegas area. From this only 20% of the Single family homes and 16% of the condos have been selling.
Comparing to the same time last year there has been a drop of 39.5%. This has caused the number of foreclosure to increase in the Las Vegas Valley. The predictions would be that the Las Vegas area will still be a soft market till at least the early part of 2009. With the interest rates coming down more and more this will create a tremendous buying opportunity for those that have been sitting on the sidelines.
Las Vegas Valley office Vacancies Rise in forth Quarter
The office vacancies rose 15.28 percent in forth quarter, a 2.9 percent quarterly increase, due to a slowing economy and housing market fallout. CB Richared Ellis reports. This would be the valley's highest vacacny rate since the last quarter of 2001. Looks like this sectcor of the market is softening dispite the climb in the rents.
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