Here’s a look back at some of the interesting real estate stories and trends that took place in the valley from single-family housing to industry space. But given the current macroeconomic climate, it’s anyone’s guess as to where the economy will actually head in 2024. But the hospitality sector had one of its best years in perhaps decades as two resorts, including the long-awaited Fontainebleau opened its doors 16 years after it first started construction.įorecasters are predicting the Federal Reserve will slash the overnight funds rate sometime next year as inflation cools, which could give a boost to the market. Industrial demand slowed in the third quarter as new supply of space dropped substantially from earlier in the year, and fewer tenants moved into completed projects. Home sales were their lowest since 2008, but this was after a record-breaking 2021 and first half of 2022.

(Chitose Suzuki/Las Vegas Review-Journal) Las Vegas Valley real estate market - from residential to commercial - has been on a roller coaster ride in 2023. Lisa Cole, Esq., vice president of Land Development Associates, LLC, stands near a building of Dermody Properties under construction, Friday, June 9, 2023, in North Las Vegas’ Apex Industrial Park.

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