Development Slows, Rents Rise
According to statistics provided by REIS, multifamily vacancy in Southern Nevada remained at 4.4 percent in the third quarter of 2019 (the most recent quarter of available data).
>> Multifamily inventory increased by 362 units in the third quarter of 2019
>> Demand nearly matched new supply
>> Vacancy remained 4.4 percent, while asking rents continued to increase
Vacancy was 0.7 points higher than one year ago. Quarter-over-quarter, vacancy in Class A properties remained 4.9 percent vacant in the third quarter, while Class B/C properties saw vacancy decrease from 4.0 percent to 3.9 percent.
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