Investment Sales Continue to Surge
- Multifamily vacancy decreased to 2.5%
- New completions totaled 879 units
- Asking rates increased to $1,366 per unit
According to statistics provided by AXIOMetrics, multifamily vacancy in Southern Nevada decreased to 2.5% in the third quarter of 2021. Vacancy was almost 1.0 point lower than one quarter ago and 1.2 points lower than one year ago . Average rent per square foot increased by $0.13 psf over last quarter, and by $0.24 psf over last year. New completions totaled 879 units this quarter. Asking rental rates increased to $1,366 per unit this quarter, a 24.3% YOY increase.
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