July 30, 2018
Nevada Real Estate Market Update
Posted in Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Employers in the Las Vegas metropolitan area continue to add jobs. A total of 27,800 new positions were added over the past 12 months, representing an annual growth rate of a healthy 2.9%. Interestingly, Las Vegas employment broke the million mark for the very first time in May of this year. Thanks to ongoing job growth, the unemployment rate continues to drop. The seasonally adjusted rate...
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April 27, 2018
Nevada Real Estate Market Update
Posted in Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Employment in the Las Vegas metropolitan area maintained the same growth rate as the final quarter of 2017, with year-over-year employment up by 2.7%. Over the past 12 months, the area has added 26,300 new jobs. This job creation has led the seasonally adjusted unemployment rate to measure 5.1%. This is the same rate as a year ago due to growth in the civilian labor force.
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January 30, 2018
Nevada Real Estate Market Update
Posted in Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Employment in the Las Vegas metropolitan area continues to moderate but, with a year-over-year employment growth rate of 2.7%, the region is still performing well above the national average of 1.4%. Over the past 12 months, the area has added 25,500 new jobs. This has led to a respectable unemployment rate of 5.3%.
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October 27, 2017
Nevada Real Estate Market Update
Posted in Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Employment in the Las Vegas metropolitan area continues to moderate from the substantial growth of the past few years, but the region still experienced impressive annual employment growth of 3%. The market has added 28,400 new jobs over the past 12 months. With this growth in employment, the unemployment rate came in at 5.2%.
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July 27, 2017
Nevada Real Estate Market Update
Posted in Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Employment growth in the Las Vegas metropolitan area slowed down—albeit very modestly—as the market entered the summer, with an annual employment growth of 2.9%. That said, the market has added 27,300 new jobs over the past 12 months. With this growth in employment, the unemployment rate remained at 4.8%, which is marginally above the statewide level of 4.7%. Las Vegas continues to approach...
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May 09, 2017
Nevada Real Estate Market Update
Posted in Market News and Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Employment in the Las Vegas area continues to improve, reporting a 3.2% increase compared to first quarter of last year, while the unemployment rate remained essentially the same. As of February, 966,300 people were employed in the Las Vegas market, up by 29,900 from February 2016. Another good sign is that the labor force continues to expand, suggesting that there is more confidence...
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February 02, 2017
Nevada Real Estate Market Update
Posted in Market News and Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Employment in the Las Vegas market slowed modestly towards the end of 2016 after having performed very well for the past couple of years. November data showed that 943,100 people were employed in Clark County; this is up by 19,000 from November of 2015, representing a growth rate of 2.1%. In a further sign of an improving labor market, the local unemployment rate has dropped...
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November 01, 2016
Nevada Real Estate Market Update
Posted in Market News and Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Home prices are increasing at a reasonable pace but there are some sub-markets that are over-performing at the present time. This is not a concern, as I think buyers will start to be more selective regarding the neighborhoods that they want to move to. This process will allow some markets to appreciate at levels higher than the regional averages.
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August 03, 2016
Nevada Real Estate Market Update
Posted in Market News and Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Job recovery in the Las Vegas metropolitan area took a bit of a pause during second quarter. May employment was down by 200 jobs from the prior month, but still 21,300 higher than seen a year ago. This matches the annual pace of 21,300 jobs seen at the end of last year, but is below the average annual rate of 32,700 for the whole of 2015.
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May 09, 2016
Nevada Real Estate Market Update
Posted in Market News and Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
After losing over 134,000 jobs during the Great Recession, the Las Vegas metropolitan area has recovered all of those jobs and employment is now at an all-time high of 934,600. Year-over-year, the market added 24,600 new jobs. This is up from the annual pace of 21,300 jobs seen at the end of last year, but below the average annual rate of 32,700 seen through the whole of 2015.
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