Las Vegas' population is 2.2M, with a total workforce of 976K. The labor market grew by 34,200 jobs over the past year, up by 3.5%. The median household income in Las Vegas is $55,893, 2.8% higher than last year and 8.9% below the national average of $61,372. In the housing market, total permits issued totaled 12,800 over the last twelve months, down 0.2% year-over-year.
Las Vegas has 240 active new home projects on the market, 13.0% fewer than the 276 from last year. The average list price in the market is $412,345, 5.1% higher than last year and 28.9% above the national average. Over the last three months, new home contracts decreased by 6.0% to 2,462. Las Vegas and Henderson had the highest concentration of the new home contracts in the Las Vegas market.