Las Vegas apartment market sees rising vacancies, lower rents

06/2/2009 | GlobeSt.com

The Las Vegas apartment sector is proving to be a difficult environment for landlords. A soft job market and declining home prices have pushed vacancy rates up and rents down, according to a study by Applied Analysis. "Negative rent growth is likely to continue through the balance of 2009 as net population growth remains down to flat, the job market continues to adjust to new market realities and residential foreclosure activity continues," AA project manager Jake Joyce said.

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