Nevada construction employment growth led the nation last month with another Southwestern state, even as the coronavirus pandemic started shutting down the economy and hard hats lost jobs around the U.S.
Eli Segall
Reporter: Real estate
Email: esegall@reviewjournal.com
Phone: (702) 383-0342
X: @eli_segall
Eli Segall joined the Review-Journal in August 2016 after covering real estate and other business topics for four years at the Las Vegas Sun. He also worked for the Silicon Valley/San Jose Business Journal, The Associated Press and other news groups. Segall has a bachelor’s in political science from the University of Michigan and a master’s in journalism from the University of Maryland. His awards include 2017 Story of the Year from the Nevada Press Association.
The developer of a business park next to the Raiders’ future practice facility in Henderson has finished the first phase of the project.
People are still buying homes, and builders are still building, but the pipeline of sales is shrinking fast amid the turmoil.
Nevadans filed another massive amount of unemployment claims last week amid the coronavirus pandemic, but the tally was the smallest since the start of the crisis.
The National Association of Home Builders/Wells Fargo housing market index dropped 58 percent from March to a score of 30 this month, the association reported Wednesday.
Nevada’s unemployment rate shot up to the highest level in years last month as the coronavirus pandemic started shutting down the economy.
Oxford Economics last week ranked Nevada the second-most economically vulnerable state behind Maine, saying the Silver State’s tourism sector, as measured by its share of financial output, is more than four times larger than the country’s.
As the pandemic wreaks havoc on the economy with sweeping business closures and record job losses, delinquencies are expected to rise nationwide, a new report indicates.
The Hard Rock’s renovation is still on schedule, President and CEO Richard “Boz” Bosworth said, but the economy is in turmoil with record job losses, and there are still plenty of unknowns.
Resorts World said in a statement that it learned Saturday of the positive case.
Gov. Steve Sisolak last week cited one reason in particular why he let construction keep going in Nevada: jobs.
In Southern Nevada, homeowners put 3,605 single-family houses up for sale last month, down 18 percent from March 2019, according to trade association Las Vegas Realtors, or LVR, which pulls data from its listing service.
The governor said during a news conference that people can still buy and sell homes, and that house hunters can still make appointments to see a property in-person if it is empty.
Allegiant Air’s parent is burning through at least $2 million in cash per day and hundreds of workers are taking two-month leave at half pay as the carrier grapples with the fallout from the coronavirus pandemic.
Las Vegas house prices hit a record high again last month, but the pipeline of sales shrank as the coronavirus pandemic wreaked havoc on the economy.