After the pandemic turned Las Vegas Boulevard into a ghost town for a while, the fallout from the outbreak has, for the most part, not been kind to the roadway’s real estate market.
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The state saw a 52.8 percent increase in initial claims filed for the week ending March 27, according to the Nevada Department of Employment, Training and Rehabilitation.
An estimated 9.9 percent of the valley’s workforce was unemployed in January. Only one other metro area with a population of at least 1 million has a higher unemployment rate.
The pause comes at a volatile and uncertain time for Southern Nevada, its workforce and its rental market.
Casinos and others will have to slash the number of customers allowed inside their doors in an already badly battered economy.
Developer Jeff LaPour told the Review-Journal last week that he might restart construction of Narrative.
Las Vegas’ mortgage delinquency rate rose again in May after the coronavirus pandemic shut down much of the economy, a new report shows.
Southern Nevada homebuilders signed nearly 1,230 sales contracts in June, the most since February.
Target is launching same-day grocery pickup in Southern Nevada and other areas of the country amid mounting coronavirus infections.