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South NV Development Activity Slows

LAS VEGAS-An index that tracks development activity in Southern Nevada declines for the second straight quarter due in large part to a slow-down in residential development.

By Brian K. Miller | Updated on February 22, 2007

LAS VEGAS-An index that tracks development activity in Southern Nevada declines for the second straight quarter, suggesting the pace of development in the region has slowed relative to the record-setting activity of 2005. After hitting a high of 157.8 following the second quarter, the Development Activity Index now stands at 153.7.

The DAI measures changes in the real estate development pipeline. Brian Gordon, a principal with Applied Analysis, which maintains the DIA, tells GlobeSt.com that the largest contributors to the decline were the shrinking number of Multiple Species Habitat Conservation Plan acres being developed and housing units being permitted.

MSHCP tracks the total number of acres for which surface disturbance permits have been issued. The 1,451 acres disturbed in the fourth quarter is up slightly from the third quarter’s 1,408 but remains 44% below the number of acres disturbed in the fourth quarter of 2005. As for housing permits, the fourth quarter total was off 42.1% or 1,040 units compared to the fourth quarter of 2005.

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