If you live in the Las Vegas area, you may have noticed all of the tilt-up walls and lumber framing rising in view from the 215 in the Southwest. Clearly there is meaningful construction there; but how much?
Currently there is over 372,000 square feet of commercial rentable building area scheduled to be delivered in 2017 and 2018. One of the largest components of this is the Credit One building between Durango and Buffalo, emerging in full view as you approach the 215 curve. This project is scheduled to be 152,000... read more
In a July 30 story in the Las Vegas Review-Journal, Coldwell Banker Premier Realty agent Diane Varney offered expert opinion and was quoted regarding the growing issue of residential real estate and its relationship to golf courses. With golf's popularity waning in recent years, so has profitability, which has led to several local area golf courses closing. And there are more on the way. The impact on homeowners with property surrounding these golf courses is real. Read Diane's take - and a few others' - ... read more
The Raider's move to Las Vegas is something that Las Vegas residents can be proud of and visitors will enjoy seeing. Our city continues to be one of the most exciting, growing areas in the country. Now that media publications have been trumpeting the move, we decided it was important to take a look at some the potential impacts the relocation may have on housing.
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SUMMARY OF FINDINGS
We see the Raiders move to Las Vegas as strongly positive, but as part of a... read more
We recently examined for-sale home levels in Las Vegas, as shown in the chart below. Although inventories are not as low as they were in 2013, when investment activity was intense, inventory is historically low. Some submarkets and price ranges are extremely constrained. Based on recent sales levels, months-of-supply in the $150,000 - $250,000 range has fallen below one month. Low inventory is not just a local issue but is noted to be an issue in many U.S. markets. Based on today's levels and increasing p... read more