Las Vegas Homeowners Falling Behind as Delinquencies Rise
Economic Challenges Facing Las Vegas Residents As the Las Vegas-Paradise metropolitan area grapples with economic headwinds, unemployment surged to 5.9% in February 2025. This marks the highest rate in the United States. The job market shows signs of contraction, with non-farm employment decreasing by 3,600 jobs. Significant economic vulnerabilities are evident, particularly in leisure and hospitality. Employment in this sector declined sharply, a reflection of weakened tourism-driven opportunities. The construction sector also faces challenges, with deferred projects due to rising interest rates and policy uncertainties. A slow housing market threatens jobs in construction, real estate, and related fields. With the commercial real estate market already facing high vacancy rates similar to those seen in places like Los Angeles, the impact on employment in sectors reliant on infrastructure development could be severe. This trend is highlighted by the fact that 28.6% of listings experi...