by Calculated Risk on 4/04/2011 09:22:00 AM

Reis is expected to release their Q1 Office, Mall and Apartment vacancy rate reports this week. These reports have been showing "stabilizing" vacancy rates for offices and malls, and falling vacancy rates for apartments. So much for "stabilization" in Las Vegas ...

From Buck Wargo at the Las Vegas Sun: Commercial real estate recovery may be two steps forward, one back

Colliers International Las Vegas reported that the office, industrial and retail vacancy rates rose by the end of March just as they had during the fourth quarter of 2010.

Commercial vacancy rates, especially the office sector, had shown some improvement during the third quarter of 2010, but that positive news now appears to be short-lived.
...
In the Las Vegas retail market, the vacancy rate was 11.5 percent, up from 10.6 percent in the fourth quarter and 9.7 percent in the first quarter of 2010—that’s a nearly 20 percent increase.

The office vacancy rate stood at 24.8 percent at the end of the first quarter, up from 24.1 percent in December and 22.7 percent in the first quarter of 2010.

Maybe the title should have been "one step forward, two steps back". I think the national numbers will be somewhat better.

Weekend:
• Summary for Week ending April 1st
• Schedule for Week of April 3rd
• All employment graphs