Indicates MSA includes part of more than one state or region. MSA includes part of more than one state or region.

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Las Vegas-Paradise, NV View area description and map

 

Market Hotness

3.2

12 mos. permits per 1,000 residents

Last update Sep '09Sources and methods - click for more info

Job Growth

-6.6%

Annual rate last 4 quarters

Last update Sep '09Sources and methods - click for more info

Res. Permits

-58%

YTD change vs. prior year

Last update Sep '09Sources and methods - click for more info
 

Local News from BUILDER

  • High hopes turn to broken dreams for several local projects

    Mar. 15--Cranes once swooped, welders once flashed and hopes once ran high at many valley construction projects that broke ground just before the ground broke beneath the economy.

     

  • Underwater homeowners leave behind mortgages, but lenders can still come calling

    Mar. 14--There's a rumbling in Las Vegas and it's growing louder every day.

     
  • Image

    As the Recession Eases, so Have Bonuses Builders Pay to Brokers

    But real estate agents insist they show houses based on client preferences, not on their potential compensation.

     
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2008 Local Leaders

Las Vegas/Paradise, Nev.

  • Market Rank: 10
  • Total Permits: 12,538
Rank Parent Company/Company Closings Market Share
1 Pulte Homes/Del Webb 1,119 8.9%
2 KB Home 1,036 8.3%
3 D.R. Horton 812 6.5%
4 M.D.C. Holdings/Richmond American Homes 789 6.3%
5 Lennar Corp. 625 5.0%
6 Turnberry Associates 415 3.3%
7 Woodside Group/Woodside Homes/Woodside Homes of Nevada 385 3.1%
8 Centex Homes/Centex Destination Properties 376 3.0%
9 Rhodes Homes 343 2.7%
10 Weyerhaeuser Co./Pardee Homes 336 2.7%
Top 10 Total Market Share 6,236 49.74%

Las Vegas data courtesy of Hanley Wood Market Intelligence
*Estimated

 

Las Vegas Permits

Percentage change year over year

  Single Family Multifamily Units  
  Permits Chg. 2 Units 3-4 Units +5 Units All Multi Chg. Total Units Chg.
9 Mos. 2009 2,847 -45% 10 180 1,515 1,705 -70% 4,552 -58%
2009 3Q 1,306 -24% 0 54 325 379 -83% 1,685 -57%
2Q 999 -56% 0 102 667 769 -65% 1,768 -61%
1Q 542 -54% 10 24 523 557 -55% 1,099 -55%
2008 4Q 692 -68% 0 22 986 1,008 -79% 1,700 -76%
3Q 1,724 -30% 12 37 2,152 2,201 -43% 3,925 -38%
Annuals                  
2008 5,874 -56% 38 188 6,438 6,664 -38% 12,538 -48%
2007 13,310 -38% 56 599 10,124 10,779 -11% 24,089 -29%
2006 21,590 -29% 64 674 11,400 12,138 +39% 33,728 -14%
Last update Sep '09Sources and methods - click for more info
 

Market Hotness Trend

12 mos. permits per 1,000 residents

Sep '09

3.2

Last update Sep '09Sources and methods - click for more info

Density Information

Calculated per square mile

Q2 '09Q2 '08Chg.
Population249.92241.873.3%
Housing Unit101.79101.000.8%
Market Density Index (MDI)
Total Permits0.792.29-65.5%
SF Permits0.450.91-50.5%
MF Permits0.341.38-75.4%
Last update Sep '09Sources and methods - click for more info

Existing Housing Stock

805,184

Las Vegas, NV

Last update Sep '09Sources and methods - click for more info

Population

Based on Census Bureau estimates

Sep '09

1,976,953

Last update Sep '09Sources and methods - click for more info

Construction Trends

Share of permits by dwelling type

9 Months '09Share
Single-Family63%
Multifamily37%
2004-2008Avg.Share
Single-Family66%
Multifamily34%
Last update Sep '09Sources and methods - click for more info
 

Las Vegas Employment Trends

Employment numbers in thousands

Employment Sector No.of Jobs Last 1 Year Change Last 1 Year Job Growth Last 2 Years Change Last 2 Years Job Growth
Total 854.3 -56.3 -6.6% -14.0 -1.5%
Construction 69.5 -23.1 -33.2% -9.7 -10.5%
Manufacturing 23.4 -1.8 -7.7% -1.5 -6.0%
Trade 116.7 -6.0 -5.1% -1.2 -1.0%
Information 10.1 -0.6 -5.9% -0.2 -1.9%
Financial Activities 45.4 -1.9 -4.2% -2.4 -5.1%
Services 450.3 -22.2 -4.9% -3.9 -0.8%
Government 100.7 -1.0 -1.0% 4.6 4.5%
Unemployed at end of period (rate) 77.1 7.7% 49.3 5.2%
Last update Sep '09Sources and methods - click for more info