Net absorption is projected to rise 50% in 2026, signaling that demand is re-accelerating as the market moves further into stabilization.
Looking forward, deliveries are projected to slow, reducing direct lease up competition and giving recently delivered communities more room to stabilize. This should support a more orderly path toward normalization into late 2026 and 2027.
Effective rents are projected to edge higher by Q4 2026, though concession pressure is expected to remain a headwind for most of the year.
Las Vegas enters 2026 in a transition phase where fundamentals are stabilizing, but competitive pressure remains elevated as the market finishes digesting the prior supply wave...
