Matrix Multifamily Las Vegas Report-December 2022 December 20, 2022

Las Vegas’ Spotty Performance

Rent growth in Las Vegas turned negative, down 0.4 percent on a T3 basis through October, to an average of $1,504, trailing the $1,727 U.S. average. However, deliveries and construction activity have picked up—with 1,173 units added to the inventory and another 9,400 underway—and transaction volume rose to $3 billion.