Do Land Prices Affect Las Vegas Growth?
Some say Las Vegas growth is slowing down due to land prices.
Others say that Vegas is just moderating its growth because they are having an effect on real estate prices.
Developers from a residential and commercial standpoint are reevaluating what kind of projects they want to build according to John Restrepo. And because of this he says local home prices are increasing.
But he also says that the market is adjusting. According to Restrepo it is construction costs that are causing concerns because of the impact it has on Las Vegas real estate prices.
Filed under: Economic News, Market Conditions