Rising visitor volume and growing payrolls in higher-paying professional and business services fields are fueling the expanding Las Vegas outlook for the metro’s apartment sector, which is witnessing vacancy forecast declines, reports Marcus & Millipchap. The multifamily construction market’s rising upswing in property operations and brighter prospects are encouraging investors. Listings are insufficient to meet demand, however, and transaction velocity rose only modestly over the past year as a result. The Las Vegas valley increasingly receives considerable attention from out-of-state investors from core primary markets, where pricing has jumped and cap rates have compressed. For the full report, CLICK HERE.
