The Money
Las Vegas construction, by the numbers
The figures we track monthly, each with the primary source attached. Where a number is not publicly available, we say so instead of estimating.
New-home market, July 2026
Home Builders Research data as reported by the Review-Journal.
| Metric | July 2026 | Change | Source |
|---|---|---|---|
| Median new-home closing price | $535,114 | +3% YoY | Review-Journal |
| Median new single-family detached | $581,930 | +2% YoY | Review-Journal |
| New-home permits, YTD | 4,776 | −25% | Review-Journal |
| New-home closings, YTD | 4,750 | −20% | Review-Journal |
| New product lines opened in July | 14 | 1,200+ lots | Review-Journal |
| Vacant-land closings | ~142 acres | ~2 months' supply | Review-Journal |
| 2025 full-year permits | 9,734 | −20%, lowest since 2016 | HBR analysis |
| Median existing single-family price | $480,000 | −1% YoY | Realtor.com / LVR |
| Months of supply, existing homes | ~4.0 | up from 3.0 a year ago | Realtor.com / LVR |
| Listings with a price cut | ~43% | median cut $18,900 | Realtor.com / LVR |
Clark County capital program, FY2027–2031
A $5.39 billion program, of which $3.51 billion still has to be raised. FY27 costs alone run about $2.46 billion (NVBEX).
Employment
Metro construction employment was 81,900 in July 2026, unchanged from June (FRED / BLS). Statewide construction employment rose to 115,800, up 2.2% year over year (NVBEX).
The mix matters more than the total. Statewide building construction employment fell to 18,900, down 600 year over year, while specialty trade employment rose to 86,700, up 2,900. That is the signature of a market carried by a handful of very large jobs rather than broad vertical building.
Population
Clark County reached 2.47 million residents in 2025, up 1.8% (UNLV CBER). The most consequential data release of 2026: UNLV pushed the county's three-million milestone from roughly 2045 out to 2055, a 13-year delay, and cut projected 2026–2036 growth to about 204,000 residents from roughly 347,000 (FOX5).
Land supply
Roughly 25,000 developable acres remain inside the federal disposal boundary, which only an act of Congress can expand (land supply analysis). The April 28, 2026 auction — the first in more than two years — raised $68.65 million on 13 parcels totaling 108 acres (BLM).
Commercial
Industrial net absorption was 825,000 sf in Q2 2026 with vacancy near 9.0% and about 5.9 million sf under construction; North Las Vegas drove nearly three quarters of occupancy gains (CBRE). Office vacancy fell to 11.9%, the first sub-12% reading since Q4 2023 (CBRE).
There is no public, regularly-updated figure for total Las Vegas metro construction starts. National figures are available, and each of the four local jurisdictions posts its own permit data separately, but nobody aggregates them. We are building that series and will publish it here.
The Friday Pipeline
Everything that changed in the valley this week, in one email.
Status changes on every tracked project, the permits and agenda items nobody else flagged, and one chart. Free, once a week, no fluff.