Per Sun Commercial’s Banner Report, the apartment market is nowhere near being over built. The report cites that there were 22,800 jobs created and only 2,747 units permitted, which translates into a ratio of 8.3 : 1. The report cites that a ratio of 5 to 1 for jobs to new multifamily permits is the threshold at which overbuilding exists, thereby indicating the Las Vegas market will have a severe apartment shortage in the coming years.
To view the full report, click here.
