In The News: Lee Business School

Southern Nevada’s population growth has slowed considerably in the past few years and is nowhere near pre-pandemic levels of in-migration to the metro region and the state. Population growth projections continue to be downgraded each of the past few years according to UNLV’s annual study, showing a marked slowdown in both migration from other states, and more notably, international migration to the area.

Five years ago, Las Vegas’ housing market was red-hot. Homes sold rapidly, as buyers flooded properties with offers and routinely paid over the asking price. One agent said he held an open house that drew so many people that local security did crowd control. Soon enough, however, the market had slammed the brakes, as sales totals plunged and prices tumbled.

High gas prices, fuel prices and news of budget airline Spirit shutting down operations is hitting people across the country and here in our valley.

A month into the second quarter, a UNLV survey shows Southern Nevada business leaders entered the period with sharply diminished confidence, as the regional index fell nearly 32 points from the first quarter amid concerns about the national economy, ongoing geopolitical tensions and persistent hiring weakness.

The federal government’s restrictive control of a fair chunk of the remaining land left for development in the Las Vegas Valley is now weighing heavily on the region’s housing market, according to multiple sources.
Nevada led the nation in post-pandemic small business growth, according to new analysis from UNLV’s Center for Business and Economic Research. Business filings surged in 2020, when Las Vegas casinos shut down for 78 days and reached their highest level since 2006 in 2021.

You might feel a pinch in your wallet at the pump — but those rising fuel costs might also contribute to a higher grocery bill for Las Vegas consumers.

Sponsored by UNLV’s Lee Business School, the Nevada Business Hall of Fame celebrates outstanding individuals who have shaped Nevada’s economic landscape and enriched its communities. Organizers say each inductee embodies the essence of Nevada’s entrepreneurial spirit, demonstrating innovation, resilience, unwavering dedication and an impact that resonates beyond their industries.

New numbers from the UNLV Lied Center for Real Estate show apartment prices in Clark County are down 2.8% from last year and more than 6% from their 2022 peak. Data from Apartment List shows the average rent in Clark County now sits around $1,423, down about 3.5% from last year. Despite the cooling market, landlords are offering record-breaking incentives to fill empty units rather than slashing prices across the board. The Lied Center for Real Estate reports incentive rates in Clark County are now the highest on record since 2000.

Nevada is one of the fastest-growing states when it comes to entrepreneurship and small businesses since the pandemic. The topic was the focus of a recent UNLV Brews & Economic Views event at Bad Beat Brewing in downtown Las Vegas.

It’s a challenging time for the Las Vegas homebuilding community and a gathering Thursday gave the industry a chance to share their thoughts on possible fixes and solutions.

Leaders presented new data on supply, demand, and what’s driving prices across Southern Nevada, discussing workforce housing, infrastructure needs, and how continued growth could impact everything from water to tourism.