City of Las Vegas Employment
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Employment
Jan '23
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300,414
Unemployment Rate Comparison
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Unemployment Rate
Mar '23
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5.9%
Source: Bureau of Labor Statistics - Local Area Unemployment Statistics
Clark County Taxable Retail Sales
| Trailing 12-Months | ||||||
|---|---|---|---|---|---|---|
| Share of Total | Feb '22 | Feb '23 | Net Change | % Change | ||
| Taxable Retail | 100.0% | $56,937.5M | $63,435.3M | $6,497.8M | 11.4% | |
| Food Services and Drinking Places | 19.7% | $10,805.5M | $12,480.0M | $1,674.5M | 15.5% | |
| Motor Vehicle and Parts Dealers | 10.9% | $6,444.6M | $6,903.3M | $458.7M | 7.1% | |
| Merchant Wholesalers, Durable Goods | 7.1% | $3,815.0M | $4,532.4M | $717.4M | 18.8% | |
| Clothing and Clothing Accessories Stores | 7.1% | $4,089.0M | $4,477.9M | $388.9M | 9.5% | |
| General Merchandise Stores | 7.0% | $4,470.4M | $4,455.0M | -$15.4M | -0.3% | |
| Building Material and Garden Equipment & Supplies | 4.6% | $2,741.8M | $2,905.4M | $163.6M | 6.0% | |
| Miscellaneous Store Retailers | 3.0% | $1,860.0M | $1,927.0M | $67.0M | 3.6% | |
| Food and Beverage Stores | 2.7% | $1,646.3M | $1,719.7M | $73.3M | 4.5% | |
| Rental and Leasing Services | 2.9% | $1,674.5M | $1,837.4M | $162.9M | 9.7% | |
| Professional, Scientific, and Technical Services | 1.7% | $1,117.3M | $1,096.0M | -$21.3M | -1.9% | |
Source: Nevada Department of Taxation
Commercial Real Estate Market
Office Market
Q4 '22
Vacancy Rate
14.7%
- 0.3% vs. Prior Yr.
- 0.2% vs. Prior Qtr.
Lease Rate
$2.16
- 3.8% vs. Prior Yr.
- 0.0% vs. prior Qtr.
Retail Market
Q4 '22
Vacancy Rate
5.3%
- -1.3% vs. Prior Yr.
- -0.2% vs. Prior Qtr.
Lease Rate
$1.91
- 2.0% vs. Prior Yr.
- 0.6% vs. Prior Qtr.
Industrial Market
Q4 '22
Vacancy Rate
4.9%
- 0.2% vs. Prior Yr.
- 0.3% vs. Prior Qtr.
Lease Rate
$0.78
- 9.2% vs. Prior Yr.
- 6.8% vs. Prior Qtr.
Housing Market
Median Closing Price
Existing Home
New Home
Source: SalesTraq
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Existing Home
$375K
Dec '21
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New Home
$542K
Dec '21
Home Closings
Existing Home
New Home
Source: SalesTraq
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Existing Home
1,401
Dec '21
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New Home
199
Dec '21
Permits
Total Permits
Permit Value
Source: SalesTraq
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Total Permits
360
May '22
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Permit Value
$126M
May '22
Vacant Land Transactions
Acres Sold
Q4 '22
68.4
- -70.0% vs. Prior Yr.
- -44.1% vs. Prior Qtr.
Total Value
Q4 '22
$66,810,927
- -49.3% vs. Prior Yr.
- -31.9% vs. Prior Qtr.
Price Per Square Foot
Q4 '22
$22.43
- 69.1% vs. Prior Yr.
- 21.7% vs. Prior Qtr.