Las Vegas Market Research Report | Q4 2023 – Colliers

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  • Southern Nevada’s unemployment rate was 6.2%
  • Home sales continued to lag behind 2022 levels
  • Taxable sales had annual growth of 1.6% in June 2023

The second half of 2023 saw demand for commercial and industrial real estate soften despite strong employment growth. The hospitality sector looked relatively strong in 2023 despite lagging behind pre-lockdown recession levels, while the housing sector was generally disappointing. Commercial real estate sales, both owner/user and investment, picked up in the third quarter of 2023, but slowed once again in the fourth quarter.

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