Why There is a New Home Shortage in Las Vegas: Real Estate Market Update

Las Vegas real estate agents Todd and Oana explain why there is a new home shortage in Las Vegas. The red hot real estate resale market in Las Vegas has bled over into the new home market causing a shortage of available homes. New home builders are scrambling to try and build new homes, but they are unable due to a shortage in the labor market as well as disrupted supply chain of raw materials.

This is a different situation than compared to the real estate crash in the mid 2000s where new home builders overbuilt and they were left holding the bag on a bunch of land and standing inventory that they couldn’t sell. The current home builders in Las Vegas now have a more conservative model they follow for new construction and they only build as they believe they can match demand and also make sure they aren’t paying too much in raw materials.

If you have questions or need to sell a home in Las Vegas please call Oana at 702-285-4207 or email her at broker@nvrs.com

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