Distressed sales drive local land values down 74 percent in fourth quarter

March 2009
Las Vegas Business Press (10712186);3/2/2009, Vol. 26 Issue 9, pP10
This article reports on the drop in land values in Las Vegas, Nevada during the fourth quarter of 2008, according to Applied Analysis. Factors that contributed to this trend include a deepening recession and the financial-market collapse. Particular focus is given to the average land values in Southern Nevada. Brian Gordon of Applied Analysis says the overall demand for commercial and residential property is affected by broader market conditions. Meanwhile, a Craig Road improvement project was completed by Frehner Construction Co. in North Las Vegas.


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